Wednesday, January 17, 2018

News from business reporter Amanda Rabines, “Starwood pays $31M for apartment complex near Lake Worth”.

This real estate news datelined yesterday in The Real Deal Miami, a news organization devoted to “South Florida Real Estate News” is subtitled,
288-unit property sold for $107K per apartment

Here’s an excerpt from the article:

Starwood Property Trust just paid $30.7 million for an apartment complex near Lake Worth, [emphasis added] property records show.
     Congress Park Limited Partnership, an affiliate of the Orlando-based Banyan Development Group, sold the 288-unit development at 3000 Congress Park Drive for about $107,000 per apartment.

and. . .

     Congress Park sits on 20 acres just south of Sixth Avenue South and west of South Congress Avenue. The rental community, built in 1995, features two- and three-bedroom apartments, a lake and a community pool.

The property that Starwood Property Trust just purchased is located in unincorporated Palm Beach County and it’s true, per reporter Amanda Rabines, that location is “near Lake Worth” in what’s locally referred to as suburban Lake Worth to differentiate that area from the actual City of Lake Worth.

The reporter at The Real Deal Miami
did her research.

Then why shouldn’t we come to expect the same from a local beat reporter from The Palm Beach Post? The site of this real estate transaction is just south of where 6th Ave. South turns into Melaleuca Lane.

Click on image to enlarge:
On the north side of Melaleuca Lane was the site of a recent dog attack as reported in The Palm Beach Post. That incident did not happen ‘in Lake Worth’.

It was noted on this blog the Post’s beat reporter
got the location of this incident wrong. So why
was there never a correction or clarification
issued by the editor?