MIAMI—A South Florida trophy multifamily asset is up for grabs. St. Tropez, a value-add multifamily asset in the Midtown Business District in Plantation, FL, just hit the market.

Located at 8000 Cleary Boulevard, the gated community includes 376 townhome-style units. The multifamily property offers 29 two-and three-story buildings spanning approximately 38 acres.

CBRE's Zachary Sackley and Mary Kate Swann, together with Charles Foschini and Christopher Apone of CBRE Debt & Structured Finance, are collaborating with Robert Given, vice chairman of CBRE Capital Markets, Multifamily, to market the multifamily asset. His team has represented over 60,000 multifamily units and land transactions with a value in excess of $11 billion.

“A bevy of construction projects and spillover growth from Miami is driving exceptional growth in Broward County, and increasing investor appetite for trophy assets like St. Tropez,” Given tells GlobeSt.com. “Proximity to Miami, above-average population growth—175,000 new people projected to move into Broward by 2020—and robust tourism are all having an impact on occupancy and rental growth.”

With direct access to Interstate 595, St. Tropez is a low-density community with a 10-acre stocked fishing lake and dock, two resort-style pools, fitness center, and direct-access garages in 90% of the units. Its Midtown Business District location is at the heart of an 860-acre master-planned development with 2.5 million square feet of retail and 3 million square feet of office space. Signage along University Boulevard, Cleary Boulevard, and American Express Way offers visibility to 58,000 cars per day.

“With its design elements, tranquil setting, and exceptional location, St. Tropez provides a competitive advantage within the submarket and represents a compelling opportunity for an investor to increase income substantially through the continuation of an existing in-unit renovation program,” says Given. The multifamily community is also positioned to benefit from economic expansion in the immediate area, including the recent $39 million transformation of Broward Mall; a planned 30-acre $500 million research/office park for Nova Southeastern University; and the planned redevelopment of Fashion Mall into a lifestyle center with residential units, office space, retail and restaurants.