An office building in downtown Fort Lauderdale has been sold to Greystar for $19.5 million. The 26,000 sqf building rests on three separate parcels at 790 East Broward Boulevard. The city of Fort Lauderdale has approved the 1.92 acre site it sits on for a 25-story mixed-use development encompassing 329 apartments and 6,871 sqf of ground floor retail space. Cushman & Wakefield represented the seller, Fort Lauderdale-based Stiles Corp., which bought the property in 1969 for $44,900. Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 150 markets. The firm has four luxury apartment communities in Fort Lauderdale, including Blue on Marina Boulevard, The Queue, Solmar on Sixth and Elan 16Forty.
