Native Realty Closes $15 Million In New Investment Sales Transactions
Three of the commercial property sales closed on the same day.
Three of the commercial property sales closed on the same day.
This sale continues to showcase the strong demand for multifamily properties in the Fort Lauderdale area, particularly those with long-term tenants, which this property features.
Vice President Bradley Arendt, Executive Vice President Mika Mattingly and Associate Jonathan Papeika of the Colliers South Florida Urban Core Division represented the seller in the transaction. Ryan Shaw of Marcus & Millichap represented the buyer.
The transaction was facilitated by Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt, who represented the seller.
The mixed-use property features a 20,150-square-foot class A office building with an attached 18,048-square-foot private hangar that can accommodate up to four planes, a luxury 2-bedroom/2-bathroom apartment overlooking the runway, and a prime development opportunity for fee simple-owned land zoned for additional airplane hangars or industrial development.
Senior Director Yoav Yuhjtman, along with Senior Managing Directors Roberto Pesant and Jaret Turkell, and Associate Director Omar Morales of Berkadia South Florida led the transaction on behalf of the seller, New York-based real estate investment firm Axonic Properties.
Forman Capital’s Ben Jacobson, Scott Mehlman and Ty Regnier originated the loan on behalf of the borrower/sponsor. Jay Miller, Spencer Miller and Noah Rothman of BayBridge Real Estate Capital brokered the financing. The transaction closed on August 29.
The tower, which has already achieved a 75% pre-sale rate, is slated for completion in 2025. Condo units range in size from 900 to 4,750 square feet, with prices from $675,000 to $4.4 million.
Native Realty’s Jaime Sturgis and Sara Dorfman closed the property sale on behalf of the seller after just 21 days on the market.
The portfolio consists of 16 apartment buildings.
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