French-Canadian Company Acquires Arbor Oaks Apartments in the U.S.



    BOCA RATON, FL, June 4 /CNW Telbec/ - A division of LSR Group has
purchased the Arbor Oaks Apartments, a 360-unit luxury garden apartment
community located in exclusive Boca Raton, Palm Beach County, Florida. The
property which consists of one, two and three-bedroom flats and town homes
were purchased for $40M.
    The Arbor Oaks Apartments reside in an exceptional location in Boca Raton
within a half-hour drive from West Palm Beach and a short distance from major
highways, all of which provide direct links to the employment centers of West
Palm Beach, Fort Lauderdale and other nearby communities. Arbor Oaks is
located adjacent to the West Boca Medical Center, Florida Atlantic University
Lynn University and is a 25-minute drive from Fort Lauderdale Airport.
Community amenities such as shopping, dining, golf and country clubs are
plentiful nearby. Overall, Arbor Oaks is situated in an ideal location in the
Boca Raton rental submarket.
    The Arbor Oaks community exemplifies the resort lifestyle that Floridians
desire with amenities that include a luxurious 6,500-square-foot clubhouse
with a study and business center, spa, pool, tennis court, indoor racquetball
court, fitness center, playground, and barbecue/picnic area. In addition,
Arbor Oaks surrounds a man-made lake, provides gated-access and some private
garages for residents. For more information go to
www.ArborOaksAtBocaRaton.com.
    The purchase of Arbor Oaks represents a first acquisition for LSR Group
in the Florida real estate market as explained by Benoît Lemieux, Executive
Vice President. "We are very enthusiastic about this acquisition and look
forward to using our expertise in property management and re-development to
make Arbor Oaks a premiere living environment. We believe that thanks to
strong income characteristics, job opportunities, high quality of life, and
strong population growth coupled with stable single-family home prices, Arbor
Oaks in Boca Raton represents an excellent long term investment for
multifamily rental communities".
    Recognizing the trend of persons who vacation in South Florida in the
winter months that desire a resort-style living environment, LSR Group will
make available some furnished units on a short-term lease. Indeed, the state
of Florida offers an 11% tenant tax rebate on a 7 month-lease and more. For
more information about rental possibilities, contact Michèle Gendron at (450)
671-6921 or michele@lsr.ca.

    LSR Group, a Montreal-based multi-family real estate development and
management company has operations in Canada and the USA, and is celebrating
its 40th anniversary in business this year. Over the years, the company has
carved out an enviable reputation for itself in developing large-scale
single-family, high-rise condominium and multi-family residential projects,
rental buildings and office tower management. LSR Group has won numerous
awards. For more information about LSR Group, visit www.lsrmanagement.com.




For further information:

For further information: Annie Lemieux, Vice-President, Real Estate
Development, (450) 923-2400 ext. 233, annie@lsr.ca

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LSR GROUP

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