In the last two decades, Florida’s downturns in the rental market have seen 7% average rent declines.
The buyer plans for the investment to be a long-term hold for us as it continues to make acquisitions in South Florida.
The fund secured total equity of $878.5 million that breaks down to $362.5 million in investment and two co-investment commitments, one for $150 million and another for $366 million.
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