The Exchange Lofts in downtown Fort Lauderdale has been sold to an affiliate of Blackstone’s LivCor multifamily real estate fund for $22.6 million. Located at 115 Northeast Third Avenue, the 87-unit apartment building traded hands for $259,310 per unit. The seven story 127,604 square-foot building was built in 1962 to serve originally as the Southern Bell Exchange Building. The vendor, GS Exchange, an affiliate of Greystar, bought the property in 2011 for $14.5 million. The transaction was completed by increasing an existing line of credit from Bank of America by $19 million.
