Berkadia announces it has arranged the acquisition of 160 out of a total 192 condominium units at Luna at Hollywood, a four-story condominium property located in a suburban neighborhood in Hollywood, Fla. Director Yoav Yuhjtman, Senior Managing Directors Roberto Pesant and Jaret Turkell, Associate Director Omar Morales and Senior Analyst Jose Mota of Berkadia Miami marketed the property on behalf of the seller, Prashkovsky Investments USA LLC. Infinity Luna LLC acquired the property and has full control of the homeowners’ association. The property is conveniently located within a 5-minute drive to I-95 and Florida’s Turnpike, and less than one mile from the Tri-Rail Station.
“Besides its central location, Luna at Hollywood benefits from the city’s extensive investment in improving the surrounding area, including public services, parks and streetscaping, combined with the strong demand for housing in Broward County in general,” said Yuhjtman. “The previous owner had already renovated about half of the units, so the new owner has an opportunity to finish the capital improvement plan and capitalize on strong rent growth trends.”
“Looking at the current market conditions and given our shift in focus towards development and newer construction acquisitions, we decided it was the right time to sell Luna at Hollywood and move on to our next project,” said Adi Karadi, CEO of Prashkovsky Investments USA LLC.
Built in 1968 and located at 3600 Van Buren Street, Luna at Hollywood consists of four 4-story buildings that offer one- and two-bedroom units averaging 1,055 square feet. Individual units feature fully equipped kitchens with upgraded cabinets and newly installed stainless-steel appliances, central air conditioning, new hard surface flooring, linen and walk-in closets, private balconies and patios and on-site maintenance. Community amenities include two resurfaced swimming pools, a fitness center, clubhouse, storage units and on-site parking and laundry facilities.
Luna at Hollywood is located just a few blocks from both the Hollywood Circle and Hollywood Boulevard. It is close to Memorial Healthcare, Hollywood Hills Plaza, the Orangebrook Golf Course, the Hollywood police station, the Broward College South Campus and within a 30-minute commute to approximately 50 million square feet of office space.
