Park Partners Residential, a joint venture partnership of Giles Capital Group and Rosemurgy Properties, acquired Bala Scandia Gardens Apartments last month.
The two-story, 178-unit multi-family community is located at 4151 and 4199 S.W. 67th Ave. in Davie.
On almost eight acres, the property consists of 125 one-bedroom/one-bath units and 53 two-bedroom/two-bath apartments. Common area improvements will feature new amenities including a fitness center and resident lounge area with an outdoor kitchen and fire pit. Existing amenities such as the swimming pool and landscaping will also be upgraded. The apartment interiors will be re-modeled and include the addition of washers and dryers.
“This acquisition met all of the criteria for our value-add program,” said Heather Straub, Vice President of Acquisitions and Asset Management, Park Partners Residential. “The property is located in one of the strongest rental markets in South Florida, as well as in a great neighborhood where the residents will benefit from our major improvements and the customer service provided by our property management team at Bridge Real Estate Group.”