Cushman & Wakefield Brokers $55M Financing of Luxury, 292-Unit Apartment Community in Fort Lauderdale
Riverview Peninsula Investments Acquired ORA Flagler Village with a Fixed-Rate Loan from Nuveen FORT LAUDERDALE, FL, September 23, 2019 – Cushman & Wakefield has negotiated the financing in the acquisition of ORA Flagler Village, a newly completed, 292-unit luxury mid-rise apartment community in Fort Lauderdale. The Cushman & Wakefield Equity Debt & Structured Finance Team of Senior Director Chris Lentz and Executive Managing Director Robert Kaplan secured a $55 million, 12-year fixed-rate loan with Nuveen on behalf of the buyer, Riverview Peninsula Investments. Fairfield Residential sold the asset for an undisclosed price. ORA Flagler Village is situated at 673 NE Third St. in Fort Lauderdale’s burgeoning Flagler Village submarket. The six-story property was completed in 2018 and was 95% occupied at the time of sale. It offers 26 distinct floorplans that average 856 square feet and range from functional studios to spacious two-bedroom residences. Amenities include an expansive pool with [...]