The South Florida Multifamily Team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn Were Selected to Market Bainbridge Coral Springs, a New 250-Unit Core Multifamily Community
CORAL SPRINGS, FL, October 27, 2017 — Cushman & Wakefield announced today that it has been named exclusive advisor for the disposition of Bainbridge Coral Springs, a recently completed, 250-unit core multifamily community in northern Broward County.
The South Florida Multifamily team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn were selected to market the asset by Wellington, FL-based owner The Bainbridge Companies. The property has been brought to market unpriced.
“Pricing of similar assets are exceeding $300,000 per unit,” said Given.
Bainbridge Coral Springs comprises seven, five-story residential buildings offering a mix of one-, two- and three-bedroom apartment homes with modern kitchens, stainless steel appliances, nine-foot ceilings, hardwood-style flooring, washers and dryers, oversized walk-in closets, built-in storage systems, a screened patio or balcony, USB-equipped power outlets and elevator service.
The average unit at Bainbridge Coral Springs is 1,123 square feet with an average rent of $1,980 ($1.76 per square foot). The property delivered its clubhouse in April and is already nearing stabilization.
The gated community features a resort-style swimming pool, outdoor kitchen, fitness center with private training room, clubroom with a bar and kitchen, cybercafé, gaming area, reserved garage parking, pet spa and a community partnership with neighboring Coral Springs Country Club and Golf Course.
“Bainbridge Coral Springs is one of only two apartment communities built within five miles of the property in the last 10-plus years,” said Given. “And because of the lack of available land, no new nearby communities are currently planned. Coral Springs is a very tight apartment market and the strong schools and access to employment makes for a compelling story to investors for years to come.”
Cushman & Wakefield’s Florida Multifamily Team is directed by Given and includes Ballard, Sackley, Neal Victor, Calum Weaver, Errol Blumer and Quinn in South Florida; Luis Elorza and Brad Capas in West Florida; Jay Ballard and Ken Delvillar in Central Florida; and Julie Bohn in Jacksonville. Robert Kaplan, Christopher Lentz and Mark Rutherford handle debt, equity and structured finance for the team out of Cushman & Wakefield’s Miami Office.
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