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|
|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|
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.
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