Cushman & Wakefield Arranges Sale Of Two-Property Multifamily Portfolio In Off-Market Deal
The transaction was arranged by a Cushman & Wakefield team led by Roberto Pesant, Jose Mota and Wouter Lips, who represented both the seller and the buyer.
The transaction was arranged by a Cushman & Wakefield team led by Roberto Pesant, Jose Mota and Wouter Lips, who represented both the seller and the buyer.
Designed for discerning automobile enthusiasts, the project will feature a limited collection of 20 privately owned automotive studios that combine exceptional design, privacy, security, and hospitality within an exclusive membership-driven environment.
The sale is one of the largest condominium-to-multifamily rental conversions in Florida.
Alamar Senior Living offers 105 assisted living and 29 memory care units that are 96% occupied.
Simon acquired the 18.6-acre Sears site last year for $23 million.
The site has long attracted developer interest because of its scale, location and proximity to transit.
The project, which features 106 residences and a 29-slip private marina, is located on the last 14 contiguous acres of Intracoastal waterfront in the Palm Beaches.
The master-planned development will include 401 multifamily residences, approximately 426,764 square feet of essential and service-oriented retail, a 125-key lifestyle hotel and an approximately 82,875-square-foot office building.
The project includes 358 apartment residences, including 90 workforce housing units, as well as a 19,000 square feet of outparcel retail, in which Trader Joe’s which will occupy 15,000 square feet of the commercial space.
The new team additions bolster Cushman & Wakefield’s capabilities in Florida’s burgeoning Treasure Coast and Space Coast regions.
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