The Mosaic at Miramar Town Center apartment complex sold for $200 million in one of the largest real estate deals in Broward County so far this year.

AMFP V Mosaic Apartments LLC and AMFP V Mosaic Townhomes LLC, both in care of New York-based Abacus Capital Group, sold the 117 apartments at 11750 Canal St. and the 67 townhouses 11571 Canal St.

The buyer was Mosaic at Miramar LP, in care of Tampa-based multifamily investor American Landmark. Forethought Life Insurance Co. provided a $134.7 million mortgage to the buyer.

The property last sold for $124 million in late 2020, so it gained 61% in value. That’s a

reflection of the record-setting surge in rents in Broward County.

According to Apartments.com, units at Mosaic at Miramar range from 700 to 1,566 square feet and rent for $2,107 to $4,431.

American Landmark Chief Investment Officer Christine DeFilippis said Florida continues to attract new residents from elsewhere in the country, so the fundamentals for multifamily properties remain strong.

The Mosaic at Miramar Town Center was developed in 2014. It’s part of a mixed-use project that includes Miramar town hall, a performing arts center, a gym and retail. The Related Group is currently building another apartment complex there.

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Miramar apartment complex sells for $200M | South Florida Business Journal