For Immediate Release – Wickatunk, NJ, September 19, 2024
A 331-unit premium class “A” multi-family development with almost full occupancy in robust Fort Lauderdale.
- Located at 475 N. Federal Hwy, Fort Lauderdale this luxury multifamily community stands nine stories tall and contains 331 apartments averaging 1,075 square feet in addition to onsite parking. All units feature top-of-the-market interior finishes, quartz countertops, and stainless-steel appliances while residents benefit from community amenities such as an outdoor pool and entertainment area, 24-hour fitness center, and an onsite spa.
- Massive wealth migration: Florida is gaining nearly 6,000 new residents per week, bringing over $36 billion in net annual income with them. All this spending contributes to the overall effect on the city, which has over 1 million s.f. in office under development as well.
- Robust job market: The region is attracting high-paying jobs. The Miami-Dade Beacon Council reported 5,000 new positions with annual salaries of $100,000.
- Transformative developments: Billions of dollars’ worth of new development make South Florida the most desirable place to live and work. This includes the expansion of Brightline, a higher-speed train system for improved connectivity.
“This investment continues Amalfi’s drive in Florida and represents one of the finest in luxury, location, & amenities available in South Florida and the surrounding area that we are targeting for long term appreciation. We are also excited to continue to partner with such a dynamic sponsor with the experience to make this investment truly a long-term quality holding which we are happy to add to our growing Florida portfolio” said Raffaella Schnurr, CEO 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. Our conservative approach combined with markets and properties that have historically high occupancy, such as our concentration on multi-family, industrial distribution & flex space facilities, has been a winning formula since our inception. www.Amalficapital.biz