Berkadia Arranges Sale Of Multifamily Development Site In Port St. Lucie To Miami Developer
The acquisition marks Ciprés’ second major development project in South Florida and represents a significant expansion northward for the Miami-based company.
The acquisition marks Ciprés’ second major development project in South Florida and represents a significant expansion northward for the Miami-based company.
This team will be an extension of both Franklin Street’s Investment Sales and Insurance brokerage verticals dedicated to South Florida.
Previously to joining the firm, he served as Vice President at CBRE, where he advised owners of commercial retail and office properties, overseeing transactions ranging from $2 million to $40 million in value.
He will guide Franklin Street in strategic growth initiatives, expanding the firm’s full-service capabilities, talent, and market share across the office, industrial, multifamily, retail and healthcare real estate sectors.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam Tiktin and Alex Lazo, along with Red Rock Realty’s Norman Matus, arranged the sale on behalf of the seller.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam J. Tiktin and Alex Lazo represented the seller, GSK Hollywood Development Group, LLC.
The buyer is Cochise Capital, a Los Angeles-based investment firm with a growing presence in South Florida.
The 100% occupied, 33,557-square-foot portfolio traded for $239,535 per unit.
They were able to procure the buyer for $395,000 over list price.
The property is currently 100% occupied with an average rent of $1,890 per month.
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