Bryson Ridgway Of Intalex Capital Purchases 5.26 Acres Office Park In Plantation For $8.93M
1600 Southwest 80th Terrace
$8,930,000
Units
395
Asset Type
Office
Closing
Jul 20, 2026
About this deal
AI
An office asset comprising 5.26 acres located at 1600 Southwest 80th Terrace in Plantation, FL, was sold for $8,930,000. The asset features potential redevelopment, transitioning from an office park use to multifamily housing.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,930,000
- Buyer: Bryson Ridgway - Intalex Capital
- Seller: Josh Procacci - IP Capital Partners; Sean F. Armstrong - Westport Capital Partners
- Lender: The Northern Trust Company
Bryson Ridgway from Intalex Capital was involved in the acquisition of the property. The sellers, Josh Procacci and Sean F. Armstrong, represent IP Capital Partners and Westport Capital Partners, respectively. Intalex Capital plans to redevelop the site into the 395-unit Water's Edge apartment project, in response to the trend of converting excess office parking areas into residential units.
On the Map
$8,930,000
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93