Parc Station apartments near Fort Lauderdale purchased
JLL Capital Markets handled the sale of the apartments, which total 345,948 square feet and consist of 336 units.
MIAMI, January 12, 2021 – JLL Capital Markets announced today 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.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.