Walker & Dunlop, Inc. (WD), a provider of financing services to owners of commercial real estate, said Tuesday that it completed sale of EON Squared, a 476-unit, luxury, high-rise apartment complex developed by Alta Developers, to Union Investment, for $227 million.
"…The rental growth in Fort Lauderdale is just exploding, reached almost 20 percent over the past year and is expected to remain well above inflation for years to come. The two EON towers will certainly continue to benefit from this upward trend," commented Tal Peri, Head of U.S. East Coast and LatAm at Union Investment.
The property, which is located at the heart of Flagler Village in South Florida, includes a 206-unit tower and an adjacent 270-unit tower completed in 2019 and 2021, respectively.
Walker & Dunlop's property sales team included Still Hunter, Greg Engler, and Kaya Suarez. The team represented the seller, Alta Developers, serving as broker and advisor for the disposition.
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