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Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire the interest in Gatehouse on the Green, a 312-unit asset located in Plantation, Florida. Considered the premier central Broward location, the property was built in 1991 with 9’ ceilings and vaulted ceilings on top floors. None of the units have been upgraded, allowing a new owner tremendous revenue upside with a comprehensive value-add program. The performance of the property has remained consistent through 2020 with strong occupancy and collections. Given its ideal location, the property has excellent access to the major employment markets and retail dynamics in the immediate area. Gatehouse on the Green represents the opportunity to acquire the ultimate value-add opportunity in a thriving, high demand market.

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Gatehouse on the Green
312 Units
150 SW 91st Avenue
Plantation, FL  33324
Type: Conventional
Closed: 12/31/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Deering Groves (the “Property”) – a Class-A, 281-unit garden apartment community located in Miami-Dade, Florida. The property was completed in 2019 and is approaching stabilization with a strong lease-up pace. Deering Groves presents a rare opportunity to acquire a new construction, garden style Miami-Dade opportunity being offered to the market for the first time by its developer, internationally recognized AHS Residential. Deering Groves has a favorable unit mix with 82% of the mix comprised of two- and three-bedroom units. Conveniently located with immediate access to US-1 and Florida’s Turnpike, residents can easily connect to major employment markets within Miami-Dade including Coral Gables, Doral and Downtown Miami. Additionally, two miles south is the Homestead Air Reserve Base which generates $350 million into the local economy.
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Deering Groves
281 Units
13710 SW 256th Street
Homestead, FL  33032
Closed: 12/30/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Solmar on Sixth - a midrise apartment community in downtown Fort Lauderdale, Florida’s emerging Flagler Village neighborhood. The 7-story multifamily asset consists of 286 apartment homes and was built in 2009. The Property recently completed approximately $5 million in improvements that include a full clubhouse renovation, a gym renovation, the addition of a dog park, modernization of the leasing office, and a hallway revamping including energy efficient lighting. Further, the Property completed 236 complete unit renovations, leaving 50 "Classic" units to be renovated by future ownership. The remaining upside, the Property’s uniquely large floorplans, and the Property’s comparative value for the neighborhood present an opportunity for consistent above market performance. Since Solmar on Sixth was first developed, Flagler Village has transformed dramatically and continues to evolve. The neighborhood is poised for further expansion and maturation through numerous new and walkable commercial projects that will greatly enhance the connectivity and demand for this asset.
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Solmar on Sixth
286 Units
408 NE 6th Street
Fort Lauderdale, FL  33304
Closed: 12/30/2020

A Trophy Residential High-Rise in Midtown Miami

Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Midtown Five (the “Property”) – a 25-story, class-AAA high-rise in the center of master-planned Midtown Miami. Midtown Five is composed of 400 luxury residences with 23,312 square feet of ground floor retail that sit along Midtown Miami’s main thoroughfare. The Property has outperformed the market in occupancy and collections and is well positioned for continued success due to its top-of-the-market unit finishes, expansive amenity package, and its irreplaceable location with immediate walkability to the 645,000 square foot Shops at Midtown, multiple under construction office projects, and two proposed Brightline stations. Midtown Five presents an extremely rare urban Miami high-rise acquisition opportunity that is poised to greatly benefit a long-term investor through Miami’s continued growth towards a first-tier world-class city.

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Midtown Five
400 Units
125 NE 32nd Street
Miami, FL  33137
Closed: 12/22/2020

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Mosaic at Miramar Town Center, a 487-unit core-plus opportunity located in Miramar, Florida. Developed in 2015, the property contains a unique mix of townhome and midrise units located within the 54-acre master planned Miramar Town Center – a “downtown” with office, retail and civic buildings. The property is well positioned for a new owner to benefit from a value-add program enhancing the unit interiors to include: hard -surface flooring in the bedrooms, new interior paint scheme, backsplash, upgraded refrigerator and technology package. Current ownership has modestly renovated approximately 30 units and has been achieving premiums of $100-200 for bedroom flooring and an additional $25 for new interior paint. There is an established onsite demographic with an average age of 37 and average household income of $104,519 creating a rent-to-income ratio of 21.3%. The location of Mosaic at Miramar Town Center offers the ultimate walkability with excellent access to surrounding jobs, retail amenities and major roadways. Within three miles of the property, there is in excess of 13.2M square feet of office/industrial space.

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Mosaic at Miramar Town Center
487 Units
11575 City Hall Promenade
Miramar, FL  33025
Type: Conventional
Closed: 12/9/2020

Cushman & Wakefield, as exclusive advisor, is pleased to present an urban infill investment opportunity to acquire Altis Boca – South Florida’s premier 398-apartment home asset located in Boca Raton, Florida. The property is comprised in a 6-story midrise design with a combined average unit size of 1,005 square feet. Altis Boca is walkable to Park Place Shopping retail center anchored by a Fresh Market and six restaurants, ranging from fast casual to white tablecloth. The property is also located in Palm Beach County largest office market and is adjacent to the 625,000 square foot Office Depot world headquarters; making it one of South Florida’s most dynamic live and work environments. Developed by nationally recognized Altman Companies, Altis Boca Raton represents the rare opportunity to acquire one of the best apartment home communities in the Southeast United States within the highly coveted location of Boca Raton.

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Altis Boca Raton
398 Units
5500 North Military Trail
Boca Raton, FL  33496
Closed: 12/3/2020

290 Residences, Commercial Garage & Prime Retail

Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Park-Line Palm Beaches (the “Property”) – a trophy 26-story residential high-rise developed as a part of the evolutionary Brightline Trains and overlooking the new Rosemary Square, Clematis Street, the Atlantic Ocean, Downtown West Palm Beach, and Palm Beach’s newest multi-tenant office building, 360 Rosemary. This coveted and irreplaceable asset opened in December 2018 and is comprised of 290 luxury residences, 790 parking spaces, of which 442 are master-leased to Brightline, and 13,235 square feet of ground floor, high-value retail. The property has exceptional onsite and neighborhood amenities from a 12th floor recreation deck with Intracoastal and Atlantic Ocean views to immediate walkability to Clematis Street, Rosemary Square, the newest Class-A offices in West Palm Beach, and direct walk-on walk-off ability to Brightline.

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Park-Line Palm Beaches
290 Units
591 Evernia Street
West Palm Beach, FL  33401
Closed: 11/25/2020

Cushman & Wakefield, as exclusive marketing advisor is pleased to present The Palms, a garden-style apartment community consisting of 340 units located in Davie, Florida. Completed in 1998 and set within a low density setting of 9 units per acre, the property features a mix of one, two and three-bedrooms with an average unit size of 987 square feet. The Palms’ Central Broward location, with direct access and exposure to I-595 (144,000 cars daily) allows it to benefit from the recently completed commuter infrastructure project with access to Plantation’s Midtown Business District, Sawgrass Corporate Park, Fort Lauderdale CBD, South Florida Education Center, Fort Lauderdale International Airport, and Port Everglades. Residents also benefit from access to A-rated public schools. The Palms has undergone renovations to 75% of its units and has been achieving premiums of $175. A future investor will be able to continue these renovations, as well as, further enhance the in-unit finish levels and generate additional income potential exceeding $445,000 per year.

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The Palms
340 Units
11000 Cameron Court
Davie, FL  33324
Type: Conventional
Closed: 11/2/2020

Cushman & Wakefield is pleased to present The Lumin Boca Raton, (the “Property”), a 180-unit, Class AA garden-style apartment community located in Boca Raton, Palm Beach County’s most dynamic business hub.

The Lumin Boca Raton was constructed in 2018 and features unparalleled apartment finishes and resort-quality community amenities, all of which result in a standard-setting asset that assures long-term demand and rental growth.

Locationally, The Lumin Boca Raton sits in the Park at Broken Sound, a 700-acre commercial, residential, and hospitality hub which has connections to all residential demand drivers such as top-tier employers, affluent demographics, top-ranked schools, and an unparalleled array of shopping, dining, and recreational lifestyle elements.

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The Lumin and Cade Boca Raton
270 Units
5500 Broken Sound Boulevard NW
Boca Raton, FL  33487
Type: Conventional
Closed: 10/26/2020
Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire the Aliro Apartments (the “Property”) - an 869-unit value-add multifamily development located in North Miami, Florida. The Property is located along Biscayne Boulevard across from the $4 billion Sole Mia mixed-use development project. The Property’s central, east of I-95, Miami-Dade location is at the center of regional long-term growth. Aliro’s location is highly desirable to prospective residents due to its connectivity to major employment centers, education and medical hubs, and points of interest including numerous parks, malls, and beaches of the Atlantic Ocean.

Aliro offers a tremendous value-add investment opportunity because of its economies of scale, proven performance, and upside. Ownership has spent millions in recent capital improvements and has completed 338 in-unit renovations leaving 531 classic units available to be renovated by future ownership.

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Aliro
869 Units
14000 Biscayne Boulevard
North Miami Beach, FL  33181
Type: Conventional
Closed: 10/1/2020

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the Port Royale Apartments, a 553-unit apartment community located along the Intracoastal Waterway in Fort Lauderdale, Florida. This exclusive waterfront investment opportunity spans approximately 22 acres and features a midrise building with 161-units nestled along 380 feet of water frontage along with 392 garden style units graciously spread across 16 acres. The Port Royale Apartments were developed between 1988-1990 and today are part of an HOA which also includes 230 private condominiums in a single 20-story tower, 555 luxury rental units developed in 2017 and a 64-slip private marina. The 22 acre site is entitled for a total of 845 units, thus there remains the opportunity to develop an additional 292 units. To date, roughly 80% of the Property’s units have been renovated achieving average rent increases of $220. Port Royale represents a very unique investment opportunity in which a buyer can implement several complementary investment strategies to achieve outsized returns.

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Port Royale
553 Units
3101 Port Royale Boulevard
Fort Lauderdale, FL  33308
Closed: 9/11/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire AMLI Flagler Village, a midrise apartment community in the emergent Flagler Village neighborhood within Fort Lauderdale, Florida. Comprising 218 apartment homes and seven office units that comprise 7,200 square feet of space, this 7-story multifamily asset offers the opportunity to attain greater yields through implementation of a higher-tier customized modernization program that will increase returns for a new owner and also make it the community of choice given its large floor plans which average 1,047 square feet. With a 93 Walk Score, the property has access to the rapidly expanding nearby amenities and the most active employment market in Broward County.
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AMLI Flagler Village
218 Units
440 NE 4th Avenue
Fort Lauderdale, FL  33301
Closed: 9/2/2020