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I suspect that as baby-boomers glut the retirement market without enough income to maintain their standard of living at home, the numbers of US retirees living abroad will skyrocket.
The eighteen story building will contain 250 market rate multifamily residential units, 150 senior affordable multifamily residential units, 19,000 square feet of street level retail and over 600 parking spaces.
Late last month, Bridge Development Partners acquired the 304,428-square-foot complex from Sherm Realty Corp., an affiliate of Weston, FL-based Apotex Corp. for $38 million.
Brass Enterprises acquired the recently developed 348-unit community in January from The Allen Morris Company of Coral Gables, FL in a deal valued at $107.6 million.
“With the completion of the TPG Real Estate Partners III fundraise, we are well-capitalized to execute our distinctive investment strategy and continue building a differentiated investment portfolio,” says Kelvin Davis, founder and co-head of TPG Real Estate.