Buyer Greystar plans to build 376 luxury garden-style apartments on prominent Davie site
FORT LAUDERDALE, Fla. – Berger Commercial Realty founder and President Lloyd Berger and Senior Vice President Steve Hyatt, along with Pat Montalbano of Montalbano Commercial Realty, represented Forman Industrial Land, LLC in the sale of 15.493 acres of land in Davie for $10,075,000 to CRP-GREP, an entity of Greystar. The deal closed June 26th.
Greystar plans to build 376 luxury, garden-style apartments on the highly visible site, which is located off Davie Road and I-595.
“With the strong demographics of the Davie market and its excellent highway accessibility, this site fits perfectly with Greystar’s plan for upscale, garden style apartments in Broward County,” said Hyatt, who has been working with Greystar on other potential acquisitions in Florida.
Headquartered in Charleston, S.C., Greystar is a fully integrated multifamily company offering expertise in property management, development and investment throughout the United States. The company manages more than 190,000 units in more than 100 markets and has invested approximately $3 billion in multifamily investments since its inception in 1993.