Duncan Osborne Of Willow Bridge Property Co. Acquires 2.4-Acre Development Site For $24.7M

The transaction involved a 2.4-acre development site located at 1040 Bayview Drive in Fort Lauderdale, Florida, with a sale price of $24.7 million. The site is approved for the Residences at Bayview, an eight-story mixed-use project comprising 259 apartments, along with 8,100 square feet dedicated to commercial space and a parking garage capable of accommodating 566 vehicles.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24,700,000
• Buyer: Duncan Osborne - Willow Bridge Property Co.
• Seller: Philip Procacci - Procacci Development Corp
• Lender: Reinsurance Group of America
• Loan Amount: $14,500,000

Duncan Osborne, representing Willow Bridge Property Co., completed the acquisition from Philip Procacci of Procacci Development Corp. The financing for the transaction was facilitated by a loan from Reinsurance Group of America.