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CUSHMAN & WAKEFIELD BROKERS $25 MILLION LAND SALE FOR MULTIFAMILY COMMUNITY

PLANTATION, FLA. — The Florida office of Cushman & Wakefield has brokered the sale of 43.7 acres of residential land located at Interstate 595 and N.W. 136th Avenue in Plantation. Atlanta-based Trammell Crow Residential and an institutional partner advised by JP Morgan Asset Management have acquired the parcel for $25 million, or approximately $581,395 per acre. Brad Capas and Rosendo Caveiro of Cushman & Wakefield facilitated the transaction on behalf of the seller, Colorado-based Affordable Residential Communities. Upon acquisition, Trammell Crow will develop Alexan Plantation, a 481-unit multifamily development that will house garden apartments and townhouses.

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