Willow Bridge Property Co. Acquires Development Site In Fort Lauderdale For $24.65M

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.