Deerfield Beach apartment complex doubles in value in two years

An affordable housing group bought the Praxis of Deerfield Beach apartments for $14.1 million. The price for the 224-unit complex works out to $62,946 per apartment.

The property last sold for $7.1 million in April 2013, so it nearly doubled in value since the last sale.

Deerfield Beach Apartment Properties, a Largo-based company managed by Benjamin Mallah, sold the property to Stafford Place Associates, a Reston, Va.-based company managed by the Affordable Housing Institute and President Robert C. Hartnett. (read more..)