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Florida & Gulf Coast  + South Florida  + Apartments  |  September 2, 2021
David Cohen
By: David Cohen

Franklin Street Arranges $7M Sale of Fort Lauderdale Apartments

Franklin Street has arranged the $7 million sale of Terra Palm Aire, a 22-unit luxury apartment community in northwest Fort Lauderdale.

The property is located at 3050 NW 68th St. and was completed in 2020. In 2021, the property achieved full lease up with an average rent of $1,890 per month. The property consists of two three-story buildings situated on just under 1 acre. The unit mix includes one- and two-bedroom floor plans averaging 1,011 square feet.

Franklin Street’s Dan Dratch and Greg Matus represented the buyer, Vino Kulhari of Terra Equity Group, in acquiring the asset in an off-market deal. Terra Equity Group is a Pembroke Pines, Florida-based private equity firm. The sellers, Noah Leon and Steven Guasch of Defined Companies, were represented by Tal Frydman of Newmark.

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Franklin Street’s Dratch

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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