Sale Of Multi-Housing Development Site At Nova Southeastern University Closes
JLL Capital Markets closed the sale and secured the equity for the 793-unit Modera Academical Village.
JLL Capital Markets closed the sale and secured the equity for the 793-unit Modera Academical Village.
Judith (Judy) A. Dolan, Senior Vice President with Levy Realty Advisors, LLC, and Stephen Hyatt, Senior Vice President with Berger Commercial Realty, joined forces to sell the two adjoining properties in Fort Lauderdale.
“Having delivered one of our first luxury multifamily projects in Plantation more than a decade ago, we remain highly invested in the city of Plantation and are thrilled to have the opportunity to bring the next generation of amenity-rich, luxury living options to the area with The Ellsworth,” said Jeff McDonough, Stiles Residential Group President.
One of the few remaining vacant parcels in the central business district, the property is primed for office, multifamily, hotel, or mixed-use development totaling more than 500,00 square feet of rentable space.
The property is located in downtown Fort Lauderdale, just south of the New River. Zoning is high density RAC-CC which allows for office and multifamily development.
The project will reinvigorate the nearly three acres of underutilized parking lots behind Grover Corlew’s 2401 Atlantic and 2335 Atlantic office buildings.
The buyer is Cochise Capital, a Los Angeles-based investment firm with a growing presence in South Florida.
EON Squared includes a 206-unit tower and an adjacent 270-unit tower completed in 2019 and 2021.
She has been involved with hundreds of real estate transactions, representing buyers, sellers, investors and tenants in both residential and commercial real estate.
The site is zoned for a variety of uses, including but not limited to, residential, office, retail and seniors housing.
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