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Affordable Housing Institute, Fairstead Purchase 123 Units in Sunrise

Federation Gardens Apartments Sold for $29.5 Million
The 123-unit apartment building sits on four acres in the Sunrise multifamily submarket of South Florida. (CoStar)
The 123-unit apartment building sits on four acres in the Sunrise multifamily submarket of South Florida. (CoStar)
By Alexis Rumber, Raul Lozoya
July 3, 2020 | 12:41 P.M.

Orlando-based Affordable Housing Institute, along with equity partner Fairstead in New York, has purchased the Federation Gardens apartments at 5010 Nob Hill Road in Sunrise, Florida, for $29.5 million, or about $240,000 per unit, from the Jewish Federation of Broward County.

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