The Magnolia Point Apartments complex at 7507 Beach Blvd. has been sold.
On Monday, Mag Pointe LLC closed on the purchase from Magnolia Point Apartments LLC for $14.4 million.
The 15.36-acre property includes 300 apartments in 10 buildings. Magnolia Point was built in 1973.
Mag Pointe, LLC was incorporated Aug. 10 and has a mailing address of P.O. Box 881078 in Boca Raton.
The registered agent is Steven Varella of Kellerman Varella in Miami Beach. The LLC manager is Dan Tokayer of Englewood, New Jersey.
The buyer borrowed $10.8 million to make the purchase. The lien holder is Valley National Bank of West Palm Beach. The current tax appraised value of Magnolia Point is $5.84 million.