NM-Port Royale LLC Acquires 555-Unit Multifamily Property In Fort Lauderdale For $180M

Located at 3333 South Port Royale Drive S. in Fort Lauderdale, this multifamily property was recently sold in a transaction dated November 30, 2020. The sale was facilitated by NM-Port Royale LLC, with Northwestern Mutual's John Schlifske representing the buyer's side. The seller's representatives were William MacDonald from Mill Creek Residential and Martin Flanagan from Invesco. The property consists of 555 units, and the sale price amounted to $180,000,000, resulting in a per unit price of $324,324.

Summary of transaction details:

• Property Type: Multifamily
• Address: 3333 South Port Royale Drive S.
• Market: Fort Lauderdale
• Buyer: NM-Port Royale LLC (Represented by Northwestern Mutual - John Schlifske)
• Seller: Mill Creek Residential - William MacDonald, Invesco - Martin Flanagan
• Price: $180,000,000
• Units: 555
• Per Unit Price: $324,324

John Schlifske, representing Northwestern Mutual, played a key role as the buyer's representative in this transaction. On the seller's side, William MacDonald from Mill Creek Residential and Martin Flanagan from Invesco were instrumental in facilitating the sale. This significant transaction underscores the attractiveness and value of the Fort Lauderdale market for multifamily properties.