Fort Lauderdale apartment building gets TCO, begins leasing
By Wade Tyler Millward via The Real Deal Miami | August 31, 2020 | Click here to view the original article.
A 243-unit multifamily building in Fort Lauderdale launched virtual leasing after gaining its certificate of occupancy.
The Bozzuto Group will handle leasing and property management for Curv, at 410 Southeast 16th Court, according to a press release. Tenants are expected to move in beginning in September.
Developed by Ram Realty Advisors and designed by Roger Fry Architects, Curv is eight stories tall. Amenities include a pool with private cabanas, fitness center, yoga studio, pet grooming salon and valet dry cleaning.
Units range from studios to three bedrooms, with 748 square feet to 1,603 square feet. Rents run from $2,165 a month to $4,335 a month, according to the release.
The building is part of Palm Beach Gardens-based Ram Realty’s long-planned 501 Seventeen mixed-use project. Ram bought the 3.2-acre development site for the project on the northwest corner of Federal Highway and Southeast 17th Street for $18.5 million in 2018. The project is supposed to include a Whole Foods grocery store.
Other local properties Bozzuto manages include Gio Midtown, which started preleasing for 450 rentals in January.
The multifamily sector has remained relatively financially secure during Covid-19, with about 87 percent of apartment households making a full or partial rent payment by Aug. 13, according to the National Multifamily Housing Council’s Rent Payment Tracker. However, rent collections could decline, without more federal stimulus, according to Doug Bibby, the organization’s president.
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $3.2 billion of capital. Ram and its predecessor entities were founded in 1978. The Company is headquartered in Palm Beach Gardens, Florida, and has offices in Charlotte and Chapel Hill, North Carolina.
Kelly Owens Alchemy Communications Group firstname.lastname@example.org office: 561.935.9953 x. 101 mobile: 561.222.4958
Jennifer Stull Ram Realty Advisors email@example.com office: 561-630-6110