Property Description
Link to Property Offering Memorandum
Property Description
Croissant Park Apartments presents a promising investment opportunity within the South Florida Metropolitan Statistical Area, specifically in Fort Lauderdale, Florida. Situated in the Croissant Park neighborhood along the Federal Highway corridor in South Fort Lauderdale, this property enjoys proximity to key attractions. To the north, you’ll find Downtown Las Olas, just minutes away, while the Fort Lauderdale Airport is a short drive to the south.
Since their acquisition, Croissant Park Apartments has undergone significant capital improvements, including the installation of hurricane impact windows and kitchen renovations, security cameras, well fed sprinklers to name a few of the enhancements. The current ownership has effectively kept up with the booming rental market, but there remains untapped potential in the rent roll for the next buyer. Rental rates continue to rise steadily as more individuals are drawn to the allure of Fort Lauderdale and the exceptional lifestyle it offers.
Vista Court Apartments represents an attractive value-add opportunity within the South Florida Metropolitan Statistical Area, situated in the City of Deerfield Beach, Florida. Nestled within the Pioneer Groves Local Activity Center, which is strategically planned as Deerfield Beach’s walkable mixed-use district, this property serves as the core of the city.
Since its acquisition, the surrounding community has experienced significant developments, including the establishment of new parks and townhomes near the subject property. The property itself has undergone substantial repositioning with capital improvements, such as the installation of new hurricane impact windows and doors, upgraded kitchens, improved flooring, and more. It’s important to note that the area is characterized by a scarcity of this type of product, as it primarily consists of single-family homes, townhomes, and privately owned condominiums. It is very rare to find multifamily in this market.
Location Description
Fort Lauderdale, situated in Broward County, Florida, is strategically positioned between Miami to the south and West Palm Beach to the north. It has rapidly emerged as a highly sought-after destination for relocation, characterized by the burgeoning construction of top-tier class A multifamily properties that adorn its downtown skyline.
Often referred to as the “Venice of America” due to its intricate canal network, Fort Lauderdale thrives as a dynamic urban center with a rich array of economic drivers and an abundance of local amenities. Key industries such as tourism, maritime, aviation/aerospace, and technology contribute significantly to the city’s economic vitality.
Notably, Fort Lauderdale boasts an impressive roster of corporate headquarters, including but not limited to AutoNation, Citrix, Spirit Airlines, Chewy, JM Family Enterprises, and Sasser Family Holdings. These companies serve as major pillars of the local economy, contributing to its robust growth trajectory.
Additionally, the bustling Port Everglades, a major economic force in the region, generates an astounding $33 billion in annual economic activity. Conveniently located just minutes away, Croissant Park Apartments stand to benefit from this dominant economic hub.
Alternatively, Deerfield Beach, Florida, lies in the northern part of Broward County, nestled between Miami and Fort Lauderdale to the south, Boca Raton and West Palm Beach to the north. This tranquil city has rapidly gained popularity as a prime relocation destination, thanks to its serene low key Parrothead lifestyle.
Locally known as “the locals’ beach,” Deerfield Beach boasts easy access to pristine sands and a highly walkable tourist district adorned with remarkable waterfront dining options and expansive vacation resorts. Distinguished by its relaxed and family-friendly atmosphere, Deerfield Beach offers a refreshing alternative to the bustling tourist hubs of Fort Lauderdale and Miami.
Situated in the northeastern corner of Broward County, Deerfield Beach is conveniently connected to Boca Raton, making it easily accessible. The city boasts extensive corporate parks and a diverse range of economic drivers, including but not limited to tourism, hospitality, retail, commerce, manufacturing, industrial activities, healthcare, professional services, and the thriving marine industry, among others.