Berkadia Arranges Sale, Financing Of Value-Add Apartments In Davie

Berkadia has arranged the sale and financing of Nova Central, a 140-unit, garden-style value-add multifamily asset located in Davie.

Senior Managing Director Jaret Turkell and Senior Directors Omar Morales and Yoav Yuhjtman of Berkadia South Florida led the transaction on behalf of the seller, Robbins Property Associates of Tampa. The property sold to McDowell Properties of Denver, Colorado.

Managing Director Josh Finley of Berkadia Atlanta, along with Managing Director Matt Robbins of Berkadia Boca Raton, arranged financing.

“Nova Central sits at the intersection of two powerful forces shaping South Florida multifamily today — chronic housing undersupply and a homeownership cost gap that continues to widen,” said Turkell. “The monthly delta between owning and renting in parts of Broward County is significant, and it’s driving a renter cohort that is professionally employed and sticky – ready to lease for the long-term.”

 

Added Morales, “What made Nova Central so attractive to the market was the clarity of the business plan. The prior ownership laid the groundwork — proven renovations, demonstrated rent premiums, and a tenant base that supports continued upside. For McDowell, this is a rare opportunity to step into a value-add story mid-chapter, with the hard work of proof-of-concept already done and meaningful yield still on the table.”

Built in 1996 and located at 6857 College Ct., Nova Central features spacious two-bedroom apartments in a low-density community. Amenities include a resort-style swimming pool and sundeck, a modern fitness center, clubhouse, business center, and ample surface parking. Apartment interiors include private patios or balconies, in-unit washers and dryers, walk-in closets, and contemporary finishes in select homes.

The property is ideally located near over 9 million square feet of retail, including daily essentials such as Trader Joe’s, Whole Foods, and Publix, and convenient retail like Costco. It also benefits from its proximity to Nova Southeastern University, Broward College, major employment centers, and key transportation corridors including I-595 and Florida’s Turnpike. The community is approximately 15 minutes from Fort Lauderdale-Hollywood International Airport and within commuting distance of Miami International Airport, providing connectivity for residents working in logistics, aviation, healthcare, education, and the broader South Florida employment base.