Advenir Azora has finalized the acquisition of Advenir at Lighthouse Point, a 249-unit upscale apartment community in Pompano Beach, Florida, for $60.9 million. The transaction was financed with a $53.3 million acquisition loan secured through Freddie Mac, arranged by JLL Capital Markets.
Key Takeaways
- Advenir Azora purchased the 249-unit Advenir at Lighthouse Point for $60.9 million.
- The acquisition was financed with a $53.3 million loan from Freddie Mac.
- The property, built in 2015, features one- to three-bedroom units and extensive amenities.
- The deal reflects a growing multifamily market in the Miami-Fort Lauderdale corridor.
Property Details
The six-story Advenir at Lighthouse Point, formerly known as Bell Lighthouse Point, was completed in 2015 on a 5-acre site. The community offers a range of one- to three-bedroom units, with interior spaces spanning from 653 to 1,284 square feet. Residents have access to a variety of shared amenities, including a rooftop lounge, a swimming pool, a fitness center, and a 600-space parking garage.
Strategic Location
Situated at 4611 N. Federal Highway, the property benefits from its proximity to U.S. Route 1. It is located approximately 14 miles north of Pompano Beach and about 8 miles south of downtown Boca Raton. The area boasts convenient access to retail options such as Target, ALDI, and Sprouts Farmers Market, as well as major transportation routes like Interstate 95 and Florida State Route 811.
Market Context
This acquisition occurs amidst a robust multifamily market in the Miami-Fort Lauderdale area. In the first ten months of 2025, the Fort Lauderdale market saw $812 million in multifamily transaction volume across 16 assets, with an average price of $283,502 per unit. This represents a year-over-year increase in both total investment and average per-unit price compared to the same period in 2024. South Florida’s overall multifamily activity has been strong, nearing the average investment sales figures of the past two years.