Cushman & Wakefield Arranges $49.7 Million Sale of Mosaic at the Forum Apartments in Fort Myers, FL

Mosaic at the Forum Apartments, Fort Myers, FL

Brad Capas

FORT MYERS, FL, November 9, 2018 — Cushman & Wakefield’s Florida Multifamily Group has negotiated the sale of Mosaic at the Forum, a 252-unit, newly constructed apartment community in Fort Myers, Florida. The property sold for $49.7 million or $197,321 per unit, marking Cushman & Wakefield’s second Class A apartment sale in Fort yers this year.

Senior Director Brad Capas, Senior Director Luis Elorza and Vice Chairman Robert Given represented St. Petersburg, Florida-based Mosaic Development in the transaction. 

Luis Elorza

Mosaic Development has multifamily development ongoing throughout southwest Florida, Tampa and Orlando. 

The buyer is an entity led by InvestRes, a privately held real estate investment company with multifamily assets throughout Florida and several other states. InvestRes has a Florida headquarters in Tampa.

Completed in December 2017, Mosaic at the Forum, which was managed by Incore Residential, experienced a rapid lease-up and was approximately 95 percent occupied at the time of sale. The gated apartment community consists of 10 three-story buildings on a 13-acre site. 

Robert Given

“Southwest Florida continues to attract a broad audience of multifamily buyers ranging from private investors to large institutions,” said Capas. 

“It is among the fastest-growing submarkets in the country with an impressive employment story, and investors are taking note. 

"We are continuously contacted by investors who are specifically targeting Lee and Collier counties for multifamily investment.”

At 3100 Champion Ring Road, the property has direct frontage along Interstate 75, exposing it to an average of 86,000 cars per day. 

Julie Bohn

The average unit size is 908 square feet, and community amenities include a resident clubhouse, leasing center, expansive pool deck with fire pit, grills and gazebos, fully equipped fitness center, two dog parks, area wide Wi-Fi, a resident package delivery system, detached garages and storage closets.

Jay Ballard

“Mosaic at the Forum represented the prototypical investment opportunity offering many of the qualities core investors seek including superior quality construction, a high-visibility location and convenient access to employment and shopping,” added Elorza. 

“The property’s rapid lease-up at competitive rents makes a strong statement for the continued strength of the Fort Myers rental apartment market.”

In February 2018, the Cushman & Wakefield team facilitated the sale of Spectra Apartments for $71.4 million or $220,000 per unit, representing the highest per unit apartment price in Lee County.

Calum Weaver

Cushman & Wakefield’s Florida Multifamily Team, directed by Given, includes Capas, Elorza and Michael Mulkern in West-Central Florida; Jay Ballard and Ken Delvillar in Central Florida; Julie Bohn in Jacksonville; and Zachary Sackley, Troy Ballard, Calum Weaver, Errol Blumer, Neal Victor, James Quinn and Perry Synanidis in South Florida. Robert Kaplan, Chris Lentz and Mark Rutherford facilitate debt, equity and structured finance for the team throughout Florida.

CONTACT:

David A. Meyer
Meyer Media  
+ 1 407 489 7488
david@meyer.media

Cavache Properties Hosts Topping Off Ceremony at 30 Thirty North Ocean in Lauderdale Beach, FL

30 Thirty North Ocean, Lauderdale Beach, FL

Adam Adache

FORT LAUDERDALE, FL – Cavache Properties LLC announced that 30 Thirty North Ocean, a chic, urban beach lifestyle condominium project located in the upscale Lauderdale Beach neighborhood has officially topped-off with construction expecting completion date in May 2019. 

 The project is one of the most anticipated among U.S. and international buyers with prices starting from $1.25 million.

The topping-off ceremony held across from the construction site included the  Fort Lauderdale Mayor Dean Trantalis and several children ages 10-12 from Epilepsy Florida.

Each child created a hand imprint by placing their hand into a concrete slab which will later be a permanent fixture at the project. The imprint will also be painted by the nationally recognized artist, Marcus Rivero, aka “Soles by Sir.”

Fort Lauderdale, FL Mayor Dean Trantalis

Developer and Managing Partner of Cavache Properties LLC, Adam Adache said, "We are thrilled to top-off the building as we approach our opening date. 

"Our progress speaks volumes about the quality and luxury we are offering. 

"Our buyers stand behind us and trust our brand by saying that 30 Thirty North Ocean is a place they want their entire family to call home."

The strong sales in advance of going vertical underscore the appeal of the luxury and amenity-rich offering that 30 Thirty has brought to the market. With unparalleled amenities like The Club at Harbor Beach Marriott Resort & Spa membership and the stylish, two-story clubhouse, 30 Thirty offers something for the entire family.

The 24-unit luxury condominium will feature summer kitchens on the lower levels units, private elevators and high-end finishes. Offering six, three-bedroom, three-and-one-half bath floorplans ranging in size from 2,095-2,375 square feet under A/C.

Marcus Rivero

30 Thirty North Ocean’s amenities will include a heated resort-style swimming pool, whirlpool spa sauna, and a fully equipped clubhouse with fitness center, owners’ kitchen and bar.

Outside the clubhouse are a gazebo barbecue area and sundeck with lush landscaping. 30 Thirty North Ocean also features secured common areas highlighted by gardens throughout, Wi-Fi in common areas, secured building access, and private neighborhood security patrol.

Situated 10 blocks north of the world-renowned Fort Lauderdale Beach strip, and among a neighborhood of $2.5 million-plus homes, 30 Thirty North Ocean is located on the last parcel of its size east of A1A in Lauderdale Beach.

  

The 30 Thirty North Ocean sales center is located at 3020 NE 32nd Avenue, Suite 107 in Fort Lauderdale, is open daily from Monday to Friday from 10am to 6pm and Saturday and Sunday from 11am to 5pm.

  To speak to a member of the sales team, or book an appointment, please call 954-400-5573, or email info@30-thirty.com. For more information, visit www.30-Thirty.com.

CONTACT:

Nicole Lewis 

nicole@zuckerlewis.com

www.cavacheproperties.com