Berkadia announced that it structured the sale of ID Flagler Village, a 24-unit, townhouse build-to-rent (BTR) property in Fort Lauderdale, Florida.
Located at 113 NE 6th Street, the community is conveniently located in Flagler Village, a neighborhood that has grown into the center of Arts & Entertainment for Downtown Fort Lauderdale. The property has easy access to north and southbound I-95 and the Brightline commuter train station and is just minutes from upscale shopping, dining, and entertainment on Las Olas Boulevard and The Galleria Fort Lauderdale. It’s also close to nearly 5.6 million square feet of office space.
Senior Director Yoav Yuhjtman, supported by Senior Managing Directors Roberto Pesant, Jaret Turkell, and Associate Director Omar Morales of Berkadia South Florida, arranged the transaction on behalf of the seller, Fort Lauderdale-based Ceiba Groupe, a family-owned and operated real estate developer with a collective portfolio that includes trend-setting luxury developments and cutting-edge mixed-use spaces, led by Managing Partners Jeremy Bedzow and Adam Bedzow. ID Flagler Village sold for $14.55 million to Miami-based U.S. Housing Reditus Fund LLC led by Christian Girardo, a real estate and development company focused on land banking, development, asset acquisition, and asset management.
“Flagler Village is an already phenomenal location that will continue growing as one of South Florida’s most desired markets,” said Yuhjtman. “ID Flagler Village is a boutique, BTR townhome community offering large, 1,600-square-foot townhomes with private garages in an area dominated by mid- and high rises with smaller apartments.”
“This asset saw significant demand, including from institutional owners within Flagler Village, who saw the townhome community in an urban infill location as a complementary ‘add-on’ to their larger properties,” added Pesant.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
