The 160-unit Villa Oceana apartment complex in Boca Raton just sold for $51.5 million, brokerage ARA Newmark said Thursday.
Sales prices of the property at 2195 N. Ocean Blvd. have been all over the map in the past decade. The property fetched $56 million in 2006 at the height of the condo conversion boom. Laramar Group of Chicago snapped up the property out of foreclosure in 2008, paying just $30 million.