JPMorgan Asset Management’s $90 Million Acquisition of Luxury Apartment Complex in Hollywood, FL

Stroock has represented JPMorgan Asset Management in its purchase of the 336-unit Parc Station Apartments in Hollywood, FL, for more than $90 million. The seller was a joint venture between Ram Realty Services and Pinnacle Housing Group.

Parc Station is a 14.5-acre apartment complex located minutes from the Atlantic coast in Broward County and built in 2016. Amenities include a residents’ clubhouse with an outdoor pool as well as a fitness center and playground. Parc Station comprises 17 three-story buildings totaling 376,560 square feet.

Stroock real estate partner Ira Teicher (Picture) and associate John-Paul Ovadia represented longtime client JPMorgan Asset Management on the deal.

Involved fees earner: Ira Teicher – Stroock; John-Paul Ovadia – Stroock;

Law Firms: Stroock;

Clients: JP Morgan Asset Management;

Author: Ambrogio Visconti