Deal Spotlight: Hinshaw's Neil Rollnick Assists Miami Beach-Based Client Boardwalk in Its Acquisition of a Fort Lauderdale Property for $53 Million
Hinshaw would like to congratulate its client Boardwalk Properties FL, LLC and its subsidiary, BP Q, LLC, on the successful acquisition of The Queue Apartments from the Queue's developers, Urban Street Development and Fazio Properties. The mid-rise apartment building is the first multifamily building with market-rate apartments to rise south of the New River area in Fort Lauderdale in recent years. The area has solid growth and development potential. The $53 million deal closed on February 22, 2018. Hinshaw's Neil Rollnick represented BP Q and Boardwalk in the transaction.
Established in 2014, Boardwalk Properties is a large privately owned multi-family residential real estate investment group focusing on the strategic acquisition, high-end improvement and exceptional management of multi-family residential properties in Miami Beach, surrounding areas and, with The Queue, Fort Lauderdale.
"[Boardwalk] has carved out a business plan to seek and acquire well-designed and constructed and well-located properties to be held for long-term investment purposes," Rollnick said.
The transaction was covered by Daily Business Review. Read the article "Cushman & Wakefield Closes $53 Million Sale of Fort Lauderdale Apartments," on the Daily Business Review website (subscription required).