ARA Announces Sale of Prime Multifamily Development Site in Plantation, FL

Midtown Phase II aerial of development site, Plantation, FL

Plantation, FL — The Boca Raton office of Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, has arranged the land sale of 2.42 acresš for the development of the 227-unit Midtown Phase II multifamily project.

Troy Ballard

ARA’s South Florida Land Division represented Miami-based American Land Ventures in the sale to Camden Realty Trust. Land Division Vice President Troy Ballard was supported by ARA Principals, Avery Klann and Dick Donnellan in marketing the property.

 “Midtown Phase II offers Camden an incredible opportunity to build a trophy asset located in one of South Florida’s most coveted locations,” noted Troy Ballard, lead broker on the deal.

 “Midtown Phase II is within walking distance to major employment, high-end shopping, dining and entertainment choices within the 860-acre Plantation Midtown District. This type of location is what every multifamily developer and institutional owner is looking for in today’s development environment.”

Avery Klann

Midtown Phase II is a 2.42-acre site that is planned for 227 multifamily units, with a height of 12 stories, and a self-contained parking garage. The site is part of a larger tract located in the northwestern quadrant of the Midtown District Town Center. ARA previously sold the existing 236-unit Phase I Midtown 24 apartment complex, built in 2010, for over $290,000 per unit.

 Midtown Phase II enjoys a strategic location within the visionary Plantation Midtown District, a master-planned development consisting of 860 acres with 2.5 million square feet of retail and three million square feet of office. The District is home to over 50 Fortune 500 companies, such as American Express, DHL and Tradestation, employing approximately 20,500 people.

Dick Donnellan

This Class “AAA” development’s high barrier-to-entry location in the heart of Broward County is superbly positioned only one mile from I-595, one of the area’s major highways, as well as within minutes from Fort Lauderdale International Airport, I-95, I-75, the Sawgrass Expressway and Florida’s Turnpike.

For more information about ARA nationally, please contact:

Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 

 Amy Morris at amorris@ARAusa.com, 678.553.9366;

 Marti Zenor at mzenor@ARAusa.com or 561.988.8800.