DEARFIELD BEACH, FL – Walker & Dunlop announced that the sale of the Indigo Station to Cortland on behalf of Ram Realty Advisors has been completed. The transaction marks the first time the property has changed hands since its development in 2019.
Located in the underserved Deerfield Beach submarket in northern Broward County, Florida, the 226-unit luxury condominium community is a rare investment in a neighborhood with high access barriers. The Indigo Station is adjacent to the Deerfield Beach Tri Rail station and is one of the few transport-oriented rental communities in Broward County. The property provides residents with convenient access to work centers including Park at Broken Sound, Cypress Creek, and Moran Family Enterprises headquarters, which employs 3,200 people just across the street.
The sale was handled by Walker & Dunlops Still Hunter, Greg Engler, Kaya Suarez, who represented both the seller and the buyer on the sale. Mr. Hunter commented, “This unique property offers 'attainable luxury' that is in great demand, but most South Florida communities only target the top end of the market. This property has a much larger pool of potential tenants permanent rental demand and long-term asset performance for our long-term customer Cortland. "
“The development of the Indigo Station is in line with our tried and tested strategy of creating institutional mixed-use projects throughout the Southeast, close to large work centers. The sale of the property in no way detracts from our commitment to South Florida and specifically Broward County, where we recently broke ground on a new mixed-use project in Oakland Park, "said Casey Cummings, CEO of Ram Realty Consultants.
The Indigo Station is certified according to the National Green Building Standard (NGBS) and offers an ideal mix of efficiently designed, luxuriously furnished studio, one and two-room apartments. Communal facilities include on-site shopping and dining, a resort-style heated pool, expansive sundeck, BBQ and picnic areas, group fitness center, electric car charging points, and controlled access. The community offers convenient access to employment and entertainment as well as a wide variety of retailers.
Source: Walker & Dunlop