IVY REALTY ACQUIRES FLA. OFFICE BUILDING FOR $42M

FORT LAUDERDALE, FLA. — Ivy Realty has acquired the majority stake interest in the 340,000-square-foot One East Broward Boulevard, located in Fort Lauderdale, from a 32-member TIC for $42 million. The buyer is undertaking a strategic capital improvement program to enhance the building's lobby and common areas, upgrade its building systems and re-tenant the building, which is 50 percent leased.