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.
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.
- ◦Sale/Acquisition