FORT LAUDERDALE, FL-Ivy Realty has snapped upOne East Broward Blvd., a 19-story, 340,000-square foot class Aoffice building in the gateway to Downtown Fort Lauderdale. Thedeal marks the fourth South Florida transaction for the real estateowner/operator in the past year. Financial terms of the deal werenot disclosed.

“The South Florida market presents numerous opportunities forcompanies such as Ivy that have a track record purchasing welllocated but undercapitalized real estate assets and launchingsuccessful reinvestment programs that position these properties tomeet market demand,” Anthony DiTommaso, Jr.,co-CEO of Ivy Realty, tells GlobeSt.com. “We are actively lookingfor opportunities to expand our presence in the South Floridamarket.”

One East Broward Blvd., known locally as the Wells Fargo Tower,is an all-glass, modern building. Wells Fargo remains the anchortenant of the property, which was originally constructed in the1980s. Ivy is undertaking a strategic capital improvement programon the building, which 50% leased at the time of purchase.

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