In 2014, Nuveen paid $52 million for a 197-unit rental community in Plantation. The company recently sold the asset to Clarion Partners for $49.35 million.

The Manor in Plantation was built in 2013 on the 2.63-acre site near the former American Express campus. The project totals 355,087 square feet, with a six-story building containing 181 apartments and 16 three-story townhouses in separate buildings. Amenities include a clubhouse, a fitness center, and a pool.

Units in the Manor range from 754 to 1,393 square feet and rent from $1,978 to $4,882.

As of 31 December 2023, Nuveen Real Estate is one of the largest investment managers in the world, with $147 billion of assets under management. Clarion has 1,500 assets with a value of $75 billion.

The post Investor Takes Hit on Plantation Apartment Sale appeared first on Connect CRE.