Trammell Crow buys Plantation offices to build apartment complex

Miami /
May.May 21, 2019 09:45 AM
Trammell Crow Residential CEO Ken Valach and 339 North State Road 7 Plantation

Trammell Crow Residential CEO Ken Valach and 339 North State Road 7 Plantation

Trammell Crow Residential paid $11 million for two Plantation office buildings, with plans to build an apartment complex.

The Dallas-based real estate development firm bought the 9.45-acre property at 339 North State Road 7 for $1,164 per acre, records show. The seller is Kisco, New York-based Parkstone Capital.

Trammell Crow previously received approval from the city of Plantation to build eight apartment buildings with 248 units and a two-story, 10,500-square foot clubhouse.

Trammell Crow Residential scored a $38.35 million construction loan from CrossFirst Bank to build the apartments, records show. Parkstone Capital bought the property out of foreclosure in 2016.

Trammell Crow Residential has developed more than 250,000 units in major markets, according to its website. The real estate firm tried to build a 21-story, 181-unit apartment tower in downtown Fort Lauderdale, but the city council voted against the project in August.


Related Articles

arrow_forward_ios
Make-A-Wish South Florida CEO Norman Wedderburn and 350 Northwest Sixth Street (Getty, Google Maps)
Make-A-Wish pays $8M for Overtown dev site
Make-A-Wish pays $8M for Overtown dev site
Phillips Point office towers with Related’s Stephen Ross (JLL, Getty)
Related Cos. closes on West Palm office towers for $282M
Related Cos. closes on West Palm office towers for $282M
Saeed Amidi and Moishe Mana (Getty, iStock)
Plug and Play to open downtown Miami office
Plug and Play to open downtown Miami office
(iStock)
Empty cubicles: Vacancies up in South Florida office market in Q4
Empty cubicles: Vacancies up in South Florida office market in Q4
President and CEO at Caron Treatment Centers Doug Tieman with the units. (Google Maps, LinkedIn via Doug Tieman)
Addiction treatment center operator pays $12M for Delray Beach apartments
Addiction treatment center operator pays $12M for Delray Beach apartments
Sagi Shaked and 201 North Pine Island Road (Shaked Law, Google Maps)
Former Plantation fertility clinic sells for $8M
Former Plantation fertility clinic sells for $8M
Michael Cammarata (Linkedin, Neptune Wellness Solutions, iStock)
Cannabis wellness company relocates HQ to South Florida
Cannabis wellness company relocates HQ to South Florida
Christopher Forest Longsworth (Invesca)
Invesca CEO Christopher Longsworth dies at 36
Invesca CEO Christopher Longsworth dies at 36
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...