Luxury Apartments In Fort Lauderdale Sell For $46.5M
The 140-unit luxury apartment community was completed in July 2023.
The 140-unit luxury apartment community was completed in July 2023.
Colliers’ Erin Byers, Lauren Pace, and Frankie Castellanos represented the tenant in the transaction. CBRE’s Devin White represented the landlord.
The retail property traded for $325 per square foot.
The exclusive leasing team for the project, JLL’s Sky Groden, SIOR; Ken Morris, SIOR; and Jeremy Cain, represented Bridge Industrial in the lease transaction. The tenant was represented by Rick Etner and Nicolas Reid of Cushman & Wakefield.
Marc Smouha and Jonathan Marti with Corepoint RE brokered the off-market deal.
The 80,000-square-foot project will feature a limited collection of 16 luxury Car Studios, a members-only Clubhouse, an indoor Padel Club, and Imperial Moto’s signature café.
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USPS will occupy the entire building.
Key tax incentives were passed this year that played a pivotal role in the acquisition, enabling the buyer to capture accelerated tax benefits and expand their portfolio of income-generating real estate assets.
The loan, provided by Mexico-based Banco Inbursa, will fund the ongoing development of the 12-story project, which will encompass 146 turn-key residences and 11,000 square feet of retail.
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