(Crystal Proenza is associate editor of RealEstateFlorida.)
PLANTATION, FL-A local residential parcel totaling 43.7 acreshas been acquired by a development entity led by Atlanta-basedTrammell Crow Residential and an undisclosed institutional partneradvised by JP Morgan Asset Management. The buyer paid $25 millionfor the land at the northeast quadrant of Interstate 595 and NW136th Avenue in Broward County.
Colorado-based Affordable Residential Communities decided tosell the property, which previously operated as a mobile home park,after it was damaged by Hurricane Wilma in 2005, says Brad Capas, amultifamily specialist with Cushman & Wakefield of Florida. Thesite is across the street from a new Ikea furniture store and a fewblocks from the Sawgrass Mills retail complex.
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