The Related Companies Acquires Multifamily Property In West Palm Beach For $65M

The Related Companies has acquired a multifamily property located at 400 S Olive Ave & 208 Fern St in West Palm Beach. The property, sold by the Episcopal Diocese of Southeast Florida, was sold for a price of $65,000,000. The transaction took place on 09/02/2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $65,000,000
• Address: 400 S Olive Ave & 208 Fern St
• Market: West Palm Beach

The multifamily property consists of 325 units with an estimated price per unit of $200,000. The total square footage of the property is 239,712, resulting in a price per square foot of $271.

Notable individuals involved in the transaction include Jeff Blau, J.P. Perez, Stephen Ross, and Jorge Perez. Jeff Blau, J.P. Perez, and Stephen Ross represent The Related Companies as their representatives in the deal, while Jorge Perez's role is not specified.