FT. LAUDERDALE, FL - Cushman & Wakefield has been named exclusive advisor for the disposition of Elan Maison, a 394-unit trophy multifamily community located in Davie, Florida, just west of Fort Lauderdale.
The South Florida Multifamily team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor were selected to market the asset, which is being brought to market unpriced.
Elan Maison features a mix of three- and four-story buildings with enclosed air-conditioned corridors. The community offers nine distinct floor plans ranging from one-bedroom residences to spacious three-bedroom apartment homes. Select units have direct access garages and there are 48 attached garages and 34 detached garages within the property. Units average 999 square feet with average market rents of $2,043 ($2.04 per square foot).
Elan Maison is currently 93 percent leased and achieved stabilization in 12 months. It recently began renewals and is seeing strong rental growth, which a new owner will be able to capitalize on. The property boasts impressive demographics with average household income exceeding $129,000 and an average age of 33.
Elan Maison redefines the standard for apartment living as the area’s only garden-style apartment with enclosed air-conditioned corridors and cutting-edge finish levels both inside the units and throughout the common areas. Market leading interior finishes include quartz countertops, soft-closing 42-inch cabinets, stainless steel appliances with front control ranges, backsplashes, hard surface flooring throughout and 9-foot ceilings. Community amenities include an 11,000-square-foot, three-story, 24-hour clubhouse with a fitness center, tanning salon, multiple pools, outdoor cabanas, lounge, grill stations, outdoor green space, a pet spa and two dog parks.
At 6220 Reese Road, The community boasts an outstanding Central Broward location at the nexus of Interstate 595, Florida’s Turnpike and Interstate 95 with excellent drive-by visibility. The suburban location benefits from the recently completed commuter infrastructure project with access to Plantation’s Midtown Business District, Sawgrass Corporate Park, the Fort Lauderdale CBD, South Florida Education Center, Fort Lauderdale International Airport and Port Everglades.
“Elan Maison’s direct access to I-595 allows ease of commute to a multitude of major employment locations within Broward County, as well as in Boca Raton and Miami,” said Given. “The expanding road infrastructure, employment growth and retail dynamics in the immediate area create a tremendous investment opportunity.”
Added Sackley, “The commitment to quality and attention to detail within Elan Maison truly sets it apart in the market. The demand for this property is evidenced by strong onsite demographics, as well as the fact that it achieved stabilization at record pace by averaging over 30 leases per month.”
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.