Multifamily sales continue to aim for new heights in South Florida, as buyers with ample resources are flocking to the hottest market.

This week, Salt Lake City-based Property Reserve, the investment arm of the Church of Jesus Christ of Latter-day Saints, paid $133M to buy a newly built multifamily campus in Plantation.

The eight-story building known as The Ellsworth encompasses 315 units at 1301 and 1303 Southwest 80th Terrace in proximity to the intersection of I-595 and South University Drive. The deal translates to about $422K per unit.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.