$500M Acquisition Streak: $181M Apartment Buy Continues Avanti’s South Florida Push
The Estate Companies developed the project in 2021 and achieved 95% occupancy in six months.
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The Estate Companies developed the project in 2021 and achieved 95% occupancy in six months.
The 131,680-square-foot property consists of two single-tenant net leased buildings.
Mike Davis, Dominic Montazemi, Mike McDonald, Miguel Alcivar, Rick Brugge, Rick Colon, and Adam Spies of Cushman & Wakefield represented the seller, USPO Miami, LLC, in the transaction.
The project is slated for 2,351 residential units anbd 540,000 square feet of office space.
Construction of the high-end and modern FIRST Apartments project started in March 2020 and was successfully completed in fall 2021.
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman, and Ron Granite of Cushman & Wakefield represented the seller in the transaction.
The property is comprised of 30 duplex buildings on six adjoining parcels totaling 9.61-acres of land.
At the time of sale, The Shops at Village Square was fully occupied by 15 retail, office, and service tenants.
The new mixed-use apartment community named Alhambra Parc will feature 33-units and retail on the ground floor.
The 71,307 square foot property features prominent frontage on South Federal Highway in the heart of Fort Lauderdale.
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