CityPlace South Tower Closing Announcement
Gulfstream Capital Group is pleased to announce the closing of CityPlace South Tower, a high-rise residential condominium located in West Palm Beach, Florida.
- Acquisition: 15 day, all-cash purchase from global bank consortium
- Bank of Nova Scotia, PNC Bank, TD Bank, People’s Bank, Comerica Bank, Allied Irish Banks, Bank Leumi USA
- Asset Quality: The property was developed by The Related Group and exhibits the highest quality standards and a top-of- the-market amenity package
- Location: Positioned within walking distance to CityPlace Shops, West Palm Beach’s epicenter for shopping, dining and entertainment, Raymond Kravis Center for the Performing Arts and the Palm Beach County Convention Center.
| Location: | West Palm Beach, FL |
| Type: | High-Rise Residential |
| Acquisition Cost: | $63,964,880; $209,720 punit, $170 psf |
| Units: | 420 Total – 305 Units Acquired |
| Square Feet: | 376,396 Net Sellable Acquired |
| Development Cost: | $144,000,000; $464,000 punit, $380 psf |
| Structure: | All-Cash Purchase of Unsold Inventory |
| Closing: | November ‘10 |
ABOUT
Gulfstream Capital Group, LLC is a Real Estate Investment Manager located in Dallas, Texas focused on the nationwide acquisition of Multifamily and Mixed-Use Real Estate, including Conventional, Condominiums, Senior and Student Housing.
Under no circumstances should any information presented on this website be construed as an offer to sell, or solicitation of an offer to purchase any securities or other investments. This website does not contain the information that an investor should consider or evaluate to make a potential investment. Offering materials relating to investments in entities managed by Gulfstream Capital Group are not available to the general public.×
