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Steve Ross's Related Companies Acquires Federation Plaza Senior Housing For $29.7M

Property Image
SOLD
$29,700,000

Florida

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Senior Housing
Sold 10/06/2023
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Property Image
SOLD

Steve Ross's Related Companies Acquires Federation Plaza Senior Housing For $29.7M

2081 Taft Street

See Similar Deals
Senior Housing
Sold 10/06/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Senior Housing
Transaction Type:Sale

The Federation Plaza senior independent living building in Hollywood, Florida, has been sold to Related Companies for $29.7 million. The property, situated at 2081 Taft Street, spans across 3 acres. This acquisition by Related Companies is in line with their dedication to affordable housing in South Florida. The affordability status of the building will be maintained, thanks to Section 8 and Low-Income Housing Tax Credit protections in place.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $29,700,000
  • Address: 2081 Taft Street, Hollywood
  • Market: Hollywood
  • Acres: 3

Related Companies, led by Steve Ross, purchased the Federation Plaza senior independent living building. The seller, Foundation for Affordable Housing, agreed to the transaction. Wells Fargo served as the lender for this deal. The building comprises 123 units, with a purchase price per unit of $241,463.

Players

Related Companies
Related Companies
BUYER
FH
Foundation for Affordable Housing
SELLER
Wells Fargo
Wells Fargo
LENDER

Details

SOLD
IMAGE: Steve Ross DATE: 10/06/2023 ADDRESS: 2081 Taft Street MARKET: Hollywood ASSET TYPE: Senior Housing ~ ACRES: 3 BUYER: Steve Ross - Related Companies (@RelatedCos) SELLER: Foundation for Affordable Housing LENDER: Wells Fargo (@WellsFargo) SALE PRICE: $29,700,000 UNITS: 123 ~ PPU: $241,463 NOTE: Related Companies, led by Steve Ross, purchased the Federation Plaza senior independent living building in Hollywood, Florida, for $29.7 million, maintaining its affordability status with Section 8 and Low-Income Housing Tax Credit protections for the long term. This acquisition aligns with Related's commitment to affordable housing in South Florida.

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