FCP announces the acquisition of Avana Cypress Creek Apartments at 1700 South State Road 7 in North Lauderdale, Florida. The 220-unit, Class A community was built in 2009 and consists of predominantly two- and three-bedroom units with the majority of the units having direct access garages. FCP will assume an existing Fannie Mae loan.
“Avana Cypress Creek adds a very well-located Broward County asset to FCP’s Florida portfolio, now totaling nearly 6,000 units,” said FCP’s Bruce Gago, who heads the firm’s Florida office. “This property is highly desirable to residents seeking large, modern apartment homes with easy access to major employment centers and shopping areas.”
Avana Cypress Creek Apartments feature gourmet kitchens, wood plank-style flooring, granite countertops, and spacious, walk-in closets among other high-end features. Residents enjoy a 4,000 square foot clubhouse, an outdoor covered lounge and entertainment area, billiards and media room, a heated resort-style pool with cabanas, and a 24/7 accessible fitness center. The community features an abundance of restaurants, shopping and entertainment nearby.
FCP extends its appreciation to Robert Given and Zachary Sackley of CBRE, who facilitated the transaction.
