ROI Capital Acquires Fort Lauderdale Apartments for $59M
Berkadia has arranged the $58.5 million sale of Green Tree Apartments, a value-add apartment community with 296 units located in Fort Lauderdale. The property was acquired by ROI Capital.
Built in 1974 and located at 5201 N. Dixie Highway, Green Tree apartments includes one- and two-bedroom apartments averaging 825 square feet. Apartments include vinyl flooring, screened-in balconies, fully electric kitchens and walk-in closets on half of the units. Shared community amenities include a fitness center, two swimming pools, grilling stations, an updated clubhouse and laundry rooms.
Jaret Turkell, Roberto Pesant, Yoav Yuhjtman, Omar Morales and Jose Mota of Berkadia’s Miami office represented the seller, private equity firm Northland, in the transaction. In addition, Mitch Sinberg and Brad Williamson of Berkadia secured a $47 million acquisition loan through lender ACRES for ROI Capital.
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.