Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + South Florida  + Apartments  | 
Nuveen sells Plantation apartments at loss

Investor Takes Hit on Plantation Apartment Sale

In 2014, Nuveen paid $52 million for a 197-unit rental community in Plantation. The company recently sold the asset to Clarion Partners for $49.35 million.

The Manor in Plantation was built in 2013 on the 2.63-acre site near the former American Express campus. The project totals 355,087 square feet, with a six-story building containing 181 apartments and 16 three-story townhouses in separate buildings. Amenities include a clubhouse, a fitness center, and a pool.

Units in the Manor range from 754 to 1,393 square feet and rent from $1,978 to $4,882.

As of 31 December 2023, Nuveen Real Estate is one of the largest investment managers in the world, with $147 billion of assets under management. Clarion has 1,500 assets with a value of $75 billion.

Connect

Inside The Story

Clarion Partners

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition