Updated Aug 6, 2026
Willow Bridge Property Co. Acquires Development Site In Fort Lauderdale For $24.65M
1040 Bayview Drive
$24,650,000
Building Size
—
Asset Type
Development Site
Closing
Jul 30, 2026
About this deal
AI
The transaction involved a 2.4-acre development site located at 1040 Bayview Drive in Fort Lauderdale. The property was acquired for $24,650,000. It has recently received site-plan approval for a project known as Residences at Bayview, which will include an eight-story mixed-use building featuring 259 apartments, 8,081 square feet of commercial space, and a parking garage with 566 spaces.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,650,000
- Buyer: Willow Bridge Property Co.
- Seller: Procacci Development Corp.
- Buyer's Representative: Beau Beckett - Beckett Realty
Beau Beckett of Beckett Realty represented the buyer in the acquisition. The buyer, Willow Bridge Property Co., acted through its affiliate WB Bayview Land LLC to finalize the transaction with Procacci Development Corp.
On the Map
$24,650,000
Development Site
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Players
Fort Lauderdale Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93