Franklin Street has arranged the $7 million sale of Terra Palm Aire, a 22-unit luxury apartment community in northwest Fort Lauderdale.
The property is located at 3050 NW 68th St. and was completed in 2020. In 2021, the property achieved full lease up with an average rent of $1,890 per month. The property consists of two three-story buildings situated on just under 1 acre. The unit mix includes one- and two-bedroom floor plans averaging 1,011 square feet.
Franklin Street’s Dan Dratch and Greg Matus represented the buyer, Vino Kulhari of Terra Equity Group, in acquiring the asset in an off-market deal. Terra Equity Group is a Pembroke Pines, Florida-based private equity firm.