A national pension fund is picking up a luxury Coconut Creek rental community for almost $90 million.
Teachers Insurance and Annuity Association of America, a Fortune 100 financial services company more commonly known as TIAA-CREF, spent $89.88 million Friday to acquire Casa Palma at 6112-6252 N. State Road 7. The transaction price averages to $256,800 for each of the complex’s 350 apartments. The low-rise community contains 405,716 square feet of residential space in 15 buildings on 20.1 acres, including a 2.67-acre lake.
