BCRC Negotiates $7.6 Million Purchase of Multifamily Property in Belle Glade

Berger Commercial Realty President Lloyd Berger and Vice President Joseph Byrnes recently represented Ytech Development, LLC in the $7.6 million purchase of a 384-unit multifamily property in Belle Glade from Greystone Belle Glade LLC. The deal closed April 1st.

The 369,700-square-foot property, located at 2000 S. Main St., is situated on
24 acres of land and features tennis courts, basketball courts, swimming pools, activity centers, and management and maintenance offices among 34 buildings.

“Ytech Development and CEO Yamal Yidios Char recognized a unique investment opportunity in purchasing this gated, garden-style community,” said Berger.

Greystone services more than $12 billion in loans and took title of the property in June 2012 after a lengthy foreclosure by Fannie Mae.