Welltower Expands South Florida Footprint With $87.2M Lake Worth Acquisition
The property totals 366,036 square feet on 22 acres.
The property totals 366,036 square feet on 22 acres.
The lease transactions are valued at more than $56 million.
The two projects total 302,000 square feet across Fort Lauderdale and Deerfield Beach, with delivery expected in 2027.
The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
The property sits on approximately 7.41 acres and is currently configured as a single-tenant office building.
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The newly acquired assemblage spans multiple properties along North Andrews Avenue, totaling more than 20,000 square feet of existing commercial space.
Senior Vice Presidents Juan Mendiola and Federico Tunnerman arranged the loan for Ocean Bank.
The mixed-use building is now fully leased.
Originally acquired in 2021, the campus was repositioned through a multi-year strategy to concentrate tenancy, enhance the office assets and unlock a portion of the site for residential development, enabling two distinct paths for value creation.
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