Commercial Real Estate, Capital, Insurance, Leasing & Management

Appetite for Multifamily Communities Translates to Transactions Large & Small

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Strong investor interest in South Florida real estate is leading to more record-setting deals.

Excerpted from Daily Business Review.

Within two weeks of bringing a 65-unit apartment complex in Fort Lauderdale’s Dorsey-Riverbend neighborhood to market, Franklin Street had toured the real estate 30 times with interested buyers.

Both regional and out-of-state investors were drawn to the 1972-built North Fork Gardens property when it hit the market in March, said Hernando Perez, director of multifamily investment sales with Franklin Street.

The apartment complex northeast of Interstate 95 and Broward Boulevard traded for $6.9 million in July, setting a price record for the neighborhood at about $107,500 per unit.

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