Union Investment Real Estate Acquires Multifamily Asset In Flagler Village, Fort Lauderdale For $226.5M

The multifamily property located at 421 NE 6th Street - Building 1 (Phase I) & 444 NE 7th Street - Building 2 (Phase II) in Flagler Village, Fort Lauderdale, has been sold. The transaction took place on December 21, 2021. The property consists of 476 units with a total square footage of 430,500. The sale price for the property was $226,500,000, resulting in a per unit price of $475,840 and a price per square foot of $526.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $226,500,000
• Units: 476
• Price Per Unit: $475,840
• Total Square Footage: 430,500
• Price Per Square Foot: $526
• Market: Flagler Village, Fort Lauderdale

The buyer of the property was Union Investment Real Estate, represented by Tal Peri and Matthew Scholl. The seller was ALTA Developers, represented by Ignacio Montes and Raimundo Onetto. Still Hunter of Walker & Dunlop acted as the broker in the transaction.