Lee & Associates’ Greg Milopoulos Completes Sale Of Downtown Fort Lauderale Property
The property, includes a 3,941-square-foot retail/industrial building and vacant lot encompassing a total of .73 acres, sold for above the initial asking price.
The property, includes a 3,941-square-foot retail/industrial building and vacant lot encompassing a total of .73 acres, sold for above the initial asking price.
Crescent Heights is developing the project, which will comprise 588 apartments in studio, one-, two-and three-bedroom layouts, as well as ground-floor retail space, including a 42,030-square-foot Whole Foods Market store.
“Both of these properties are a classic value add where current rents are below market, purchase price way below replacement cost, short-term leases and some capital improvements to maximize the increase in value,” added Levitt. “It is very hard to find value add industrial properties in Florida and we are looking forward to rolling up our sleeves to make this a great long-term investment.”
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The transaction represents the sixth that Ron Osborne has completed with this buyer.
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TrueCoverage, LLC, an insurance marketplace that delivers affordable health insurance from over 600 top insurance company partners, will occupy the space.
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Leveraging his deep expertise in private equity, real estate and capital markets, Green has facilitated transactions totaling over $500 million throughout his career. He now takes the helm to accelerate Terra Energy’s U.S. expansion strategy.
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