Clarion, Cortland Offload Boca Raton Apartments for $152.5M

Clarion, Cortland Offload Boca Raton Apartments for $152.5M
News| August 22, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings

Clarion Partners and Cortland sold a 384-unit Boca Raton apartment complex for $152.5 million, or nearly $400,000 a unit. The investment arm of the Church of Jesus Christ of Latter-day Saints was the buyer. The South Florida Business Journal reports the apartment complex at 7801 N. Federal Highway last sold for $120.84 million in 2019.

Del Ola, totaling 435,852 square feet, was developed on the 17.4-acre site in 2012. It consists of five-story buildings with elevators, three-story garden-style apartments and three-story townhouses. The community has a pool, a putting green, a bocce ball court and a playground.

Units in Del Ola range from 727 to 2,024 square feet and rent from $2,482 to $7,465.

Earlier this year, the LDS affiliate paid $58.94 million for a new warehouse in Hialeah.

From capital markets and financing trends to development, acquisitions, and property management strategies, Connect Apartments on September 11 in Los Angeles dives into the issues shaping today’s multifamily landscape. Join the experts leading conversations on affordability, innovation, market dynamics, and investment opportunities—all in one day, under one roof. If you want the latest insights that drive decisions in apartments, this is where you’ll find them: www.connectapts2025.com 

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