ABH Completes Development Site Assemblage In Wynwood Norte, Becomes Largest Stakeholder In The District
The firm has 13 projects ranging from 24 to 150 units in various stages of development just within the Wynwood Norte boundaries.
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The firm has 13 projects ranging from 24 to 150 units in various stages of development just within the Wynwood Norte boundaries.
Within 29 months of groundbreaking, Cymbal DLT paid off its $60.3 million construction loan to 3650 REIT and distributed to their equity investors over a 130% return.
Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelly of CBRE brokered the transaction on behalf of both the buyer and seller.
Avison Young Principals Michael T. Fay, Jay Ziv, John K. Crotty, David Duckworth, and Brian C. de la Fé completed the sale.
The listing, which is being handled by CBRE Senior Vice President David Wigoda, says the property offers a turnkey solution for a corporate buyer or it could be redeveloped for office, industrial, retail, hotel or multifamily uses.
CS Ventures Management, a joint venture led by Spencer J. Schlager and Charles L. Rosenberg, acquired the office building in December 2022.
Native now operates from a Fort Lauderdale office that is double the size of its previous headquarters at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.
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Chris Metzger of Cushman & Wakefield’s South Florida Industrial Team led the negotiations and represented the landlord, EastGroup Properties, in the deal.
Transwestern’s Carlos Gaviria, Thomas Kresse, Walter Byrd, and Ben Eisenberg represented building owner Terreno Realty Corporation in the transaction.
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