An investment fund managed by Goldman Sachs snatched up a newly built, 397-unit multifamily asset behind Nova Southeastern University in Davie for $154.5M.
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Goldman purchased Modera Academical Village I from Mill Creek Residential for nearly $390K per unit, according to property records provided by Vizzda.
Mill Creek delivered the eight-story, 689K SF building at 3440 SW 76 Terrace last year. Its one-to-three-bedroom units span between 730 SF and 1,490 SF, according to Apartments.com.
The apartments were the first phase of the 793-unit Modera Academical Village development by Mill Creek Residential. Another 396-apartment project is still planned.
SALES
An entity tracing to Fox Ridge Capital and Jax Capital Investments sold a 271K SF office park in Hollywood to Memorial Healthcare System for $69M, according to property records provided by Vizzda.
Venture Corporate Center at 3440 Hollywood Blvd. and 200-300 S. Park Road spans three four-story buildings built in 1982 and 1984. The majority of the tenants are medical practices and professional firms.
Memorial Healthcare CEO Shane Strum told the South Florida Business Journal that the acquisition made sense because it's a large property on Hollywood Boulevard, and the system plans to expand beyond the two floors it already occupies and take over all of the buildings over time.
Jax Capital purchased the site in 2021 for $50M, according to records provided by Vizzda.
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An affiliate of Kerra Investments purchased a 228-unit apartment complex in Pompano Beach from an entity tracing to Aviara Properties for $73M, according to property records provided by Vizzda.
Kerra assumed a $58M loan from an affiliate of Ladder Capital Corp. in its purchase of the Aviara East Pompano at 1621 S. Dixie Highway.
The complex is made up of two eight-story buildings, a six-story building and a clubhouse, totaling 290K SF. Cushman & Wakefield’s Roberto Pesant, Jose Mota and Wouter Lips arranged the deal, the SFBJ reported.
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An entity tracing to Compson Associates sold a 935-unit self-storage facility in Plantation for $20.9M, according to property records provided by Vizzda.
An affiliate of Clarion Partners purchased the three-story, 122K SF building at 1480 NW 66th Ave. Compson delivered the building, operated by Extra Space Storage, last year.
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Miami-based Galium Capital made its first multifamily acquisition in Miami with a 156-unit apartment complex in Aventura, according to a release.
The seller of Arbors Aventura was an entity managed by Corinthian Capital Real Estate Partners’ Denis Barreto, who purchased the site in 2022 for $35.2M, according to Miami-Dade County property appraiser records.
Apartments in the three-building complex, built in 1969, span between 810 SF and 1,310 SF and start at $1,760 per month, according to Apartments.com.
The property traded for $28.7M, The Real Deal reported. Newmark’s Tal Frydman represented the buyer and seller.
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Nuveen Real Estate sold a 207K SF, Publix-anchored shopping center in the largest grocery-anchored retail transaction in northern Palm Beach County in more than five years, according to a release.
The Mount Vernon Co. purchased the Promenade Shopping Plaza at 9840 Highway A1A for $66.8M, according to property records provided by Vizzda.
The Palm Beach Gardens property is 98% leased. Publix originally operated in a 42K SF store built in 1989, but the grocery store demolished it and built a 55K SF store that opened in May 2025.
A JLL team of Danny Finkle, Jorge Portela and Kim Flores handled the transaction.
FINANCING
Lore Development Group, a joint venture between Leste Group, Element Development and Brazilian independent fund manager Opportunity, obtained a $58M construction loan from SME Capital for a condo project in Coconut Grove, according to a release.
The 30-month loan, which has two six-month extension options, will fund the development of The Lincoln, a 48-unit luxury condo already under construction and expected to be completed by the third quarter of 2028.
Forty percent of the units, which range between one- and four-bedroom condos, have been sold, according to a release. Amenities include a rooftop pool, an observation deck, an outdoor yoga and meditation area, a sauna, steam rooms, a golf simulator, a coworking lounge, a media area and a dog park.
Berkadia’s Scott Wadler, Bobby Dockerty, Mitch Sinberg, Matt Robbins and Brad Williamson arranged the loan.
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Pinnacle landed a $40.2M financing package to build the first phase of the affordable senior housing project Pinnacle at Cypress, it announced.
Bank of America and JPMorgan Chase are the lead financiers with a $20M tax-exempt bond, with other funding coming from the Florida Housing Financing Corp. and Broward County.
The project at 6520 N. Andrews Ave. will feature 100 one-bedroom apartments targeting seniors earning 22%, 33% and 60% of the area median income. It will have 6,530 SF of ground-floor commercial space.
Pinnacle expects to break ground on the second phase by next spring.
PEOPLE
Driftwood Capital tapped three new executives to lead its equity and credit investments, according to a release.
David Resnick joined as co-chief investment officer after spending about 10 years at 13th Floor Investments, where he most recently served as CIO. Resnick led more than $850M in projects and helped 13th Floor’s pipeline grow to more than 7,500 multifamily units.
Driftwood also promoted David Steiner to co-CIO after joining the company in 2020 and co-founding its credit platform. Together, Steiner and Resnick will lead investment activity, overseeing strategy, origination, underwriting and capital.
The company also named Andrew Dykeman senior vice president of equity investments, responsible for underwriting and structuring new equity investments. Dykeman is joining from the Witkoff Group, where he served as senior vice president of acquisitions and capital markets.
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