January 7, 2021
Franklin Street has arranged the $18.8 million sale of a 180-unit value-add apartment community in South Florida. The community is located in a federally identified Opportunity Zone in Lauderhill, just outside Fort Lauderdale.
The apartment community is located at 5411 NW 27th St., just west of Florida’s Turnpike. The property sits on more than seven acres and consists of 18 two-story buildings totaling approximately 175,500 square feet. The unit mix consists of 40 one-bedroom units and 140 townhome-style, two-bedroom units. Amenities include an on-site leasing office, two swimming pools and two on-site laundry facilities.
Dan Dratch, Greg Matus, Michael Dolgos and Travis Jones of Franklin Street represented the buyer, Miami-based real estate investment firm Treevita, in the transaction. Treevita focuses on value-add commercial and multifamily properties. The Franklin Street team also represented the seller, an affiliate of KVR Properties, an investment and property management firm headquartered in Fort Lauderdale.
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Tags: Apartments & Multifamily