Fort Lauderdale Multifamily Asset Trades For $94 Million
Mill Creek Residential Trust LLC sold the 553-unit Port Royale apartments at 3300 N. Port Royale Dr. N in Fort Lauderdale to Waterton Associates for $94 million, or approximately $170,000 per unit.
The 589,309-square-foot multifamily complex consists of a mix of one- and two-bedroom units across 21 buildings. The property was constructed in 1988 with renovations completed in 2006. It sits on 50 acres in Broward County.
Both the seller and the buyer handled the direct sale in-house.
Source: CoStar
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