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Dermot Company’s Stephen Benjamin with Seabourn Cove at 3501 North Federal Highway (Linkedin, Google Maps, Seabourn Cove)
Dermot Company paid $143 million for an apartment community in Boynton Beach, a record for 2021 and one of the most expensive multifamily deals in more than a year.
Property records show Heitman Capital Management affiliate Hart Seabourn Cove sold the 308-unit community at 3501 North Federal Highway and the 148-unit second phase at 3480 Old Dixie Highway to Seabourn Cove Holdings LLC, which is linked to New York-based Dermot.
The buyer financed the purchase with an $84 million mortgage from TIAA, records show. The Boynton Beach community sold for about $314,000 per unit.