Nadim Ashi Of Fort Partners Acquires Multifamily Property From Philip Pilevsky For $20M In West Palm Beach

The transaction involves the sale of a 25-unit bayfront apartment complex located at 3906 Washington Road and 3907 South Flagler Drive in West Palm Beach. The sale price was $20 million, resulting in a price per unit of $800,000. The property occupies nearly one acre and is situated in a market experiencing significant growth in luxury developments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Units: 25
• Price Per Unit: $800,000
• Buyer: Nadim Ashi - Fort Partners
• Seller: Philip Pilevsky - Philips International
• Lender: Ellington Financial & Sheridan Capital

Nadim Ashi leads Fort Partners, which has not disclosed future plans for the property following its acquisition. The firm has a well-established portfolio of Four Seasons branded developments throughout South Florida.