Reve Ventures LLC Acquires Parking Garage In Fort Lauderdale From Patrick Goddard For $17M

The property asset involved in the transaction is a parking garage located at 300 Northwest 2nd Street in Fort Lauderdale. The sale was executed at a price of $17,000,000, with the property encompassing 185,931 square feet. The price per square foot is calculated to be $91, and the parking garage has a capacity of 650 spaces.

Summary of transaction details:

• Property Type: Parking Garage
• Transaction Amount: $17,000,000
• Address: 300 Northwest 2nd Street
• Market: Fort Lauderdale
• Square Footage: 185,931
• Price per Square Foot: $91
• Buyer: Reve Ventures LLC
• Seller: Patrick Goddard - Brightline Florida; Florida East Coast Industries

The deal involved Reve Ventures LLC acquiring the property from Patrick Goddard, who represents Brightline Florida and Florida East Coast Industries. The sale was motivated by Brightline's ongoing financial challenges, which include a credit downgrade to CCC and continued net losses despite revenue growth.