Rockpoint Acquires 87.8-Acre Industrial Site In Pompano Beach, FL For $180M

A development site spanning 87.8 acres has been sold in Pompano Beach, FL. The property located at 777 Isle of Capri Boulevard was acquired by Rockpoint, a real estate investment firm led by Tom Gilbane. The transaction was completed without the involvement of brokers and the sale price was recorded at $180,000,000.

Summary of Transaction Details:

• Property Type: Development Site
• Transaction Amount: $180,000,000
• Market: Pompano Beach
• Buyer: Rockpoint - Tom Gilbane

This significant acquisition marks an expansion of Rockpoint's presence in South Florida. The purchase of the 87.8-acre industrial site is part of a larger development called The Pomp, spanning 223 acres. The project is a joint venture between Rockpoint, Cordish Companies, and Caesars Entertainment. The all-cash transaction is set to facilitate development, with construction anticipated to commence in May 2024.