JLL Capital Markets announced that it has closed the sale of Parc Station, a 336-unit Class A apartment community in Hollywood, Florida, part of the greater Fort Lauderdale area.
JLL worked on behalf of the seller, to complete the sale to the buyer.
Built in 2017 and totaling 345,948 square feet, the property is the only newly built, Class A garden-style apartment community within the area. It offers ample investment opportunity for the buyer, with Parc Station holding 95% occupancy amid the pandemic. The apartments consist of a mix of one-, two- and three-bedroom units and offer upscale amenities for residents including an expansive sundeck with an outdoor entertainment cabana and pool area; 24-hour fitness center; and business lounge and clubroom.
Parc Station is located at 2300 N. 29th Ave. The property also benefits from immediate accessibility to I-95, placing it just 10 minutes from Downtown Fort Lauderdale, and is conveniently located next to a Tri-Rail Station set to connect to Miami Central Station in 2021.
The JLL Capital Markets team representing the seller was led by Executive Managing Director Matthew Lawton; Senior Director Maurice Habif; Directors Simon Banke and Ted Taylor; and Analyst Jo Rousseau.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.