For Immediate Release – Wickatunk, NJ, Sep. 12th, 2022
Amalfi is investing in four newly constructed, 99% leased multifamily properties with over 1,600 combined units in the HOT Fort Lauderdale metropolitan area, a large well-established market for restaurants, offices, nightlife, and only 5 miles from the Ft. Lauderdale Int’l airport.
Las Olas Walk is downtown Fort Lauderdale’s only midrise community and features direct access to the New River. Amenities include a fitness center, clubhouse and swimming pool. Las Olas Walk is within walking distance of more than 100 retail and dining options as well as more than 8 million square feet of office space.
- Just like Miami, Fort Lauderdale has made the necessary efforts and investments to distance itself as uniquely a tourist destination and these ongoing efforts are now finally paying off. According to Jenni Morejon, president of the Fort Lauderdale Downtown Development Authority (DDA), the thriving Fort Lauderdale economy is attracting high- profile businesses, an emerging talent pool and significant investment in infrastructure. As our Fort Lauderdale expert Elaine Tatum mentioned back in June, Fort Lauderdale is changing rapidly. Not only are we experiencing a boom in brand new luxury condos, the City Commission is also investing in improvement projects, earmarking $200 million to create more parks and greenways. All of this helps in creating sustainable growth and to put Ft. Lauderdale on the map with luxury buyers from around the country and the globe. It is all about sustainable growth and the city has not just focused on attracting new residents, but also giving them a reason to stay here.
- The Covid 19 pandemic has accelerated many powerful trends that will cement Fort Lauderdale as a destination for top talent over the next decade. We see finance and tech talent migrate from cities or states like New York, Connecticut, California and Chicago to Fort Lauderdale. Since these days they can work from anywhere in the US, they are looking for quality of life. These relocation buyers are mostly looking for entertainment options, business opportunity and walkability. Fort Lauderdale is now catering to these new residents with new emerging tourists’ destinations to complement Fort Lauderdale Beach, up and coming new neighborhoods offering a mix of restaurants, entertainment options and public art as well as bold public-private partnerships creating new cultural and recreation attractions for residents.
Cardone Capital’s real estate portfolio consists of approximately 11,500 apartment units across 35 multifamily properties along with over 225,000 square feet of commercial office space. “This will be Amalfi’s 2nd investment with Cardone in south Florida. These 4 properties represent the finest in luxury, location, & amenities available in the Fort. Lauderdale surrounding area. These represent some of the newest & most vibrant developments in the area & together with partnering with such an exciting sponsor with the experience to make this investment one which we are happy to add to our growing Florida portfolio” said Raffaella Schnurr, CFO of Amalfi.
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Amalfi Capital is a real estate equity firm founded in 2015 that is an investor in over 5 million square feet of property throughout the United States. Amalfi focuses on expanding its portfolio by partnering with highly experienced sponsors who are experts in their respective markets by investing in commercial & industrial assets that we believe are well positioned for above market returns over the long run. www.Amalficapital.biz – amalficapitalinfo@gmail.com