An affiliate of New York-based TIAA Global Asset Management has acquired The Edge apartment complex in the Flagler Village neighborhood of Fort Lauderdale. Changing hands for $114.4 million, the 331-unit apartment complex at 475 to 495 N. Federal Highway, traded for just under $345,620 per unit. Completed in 2014 on a 3.3 acre site, amenities include a clubhouse, fitness center, and a pool. The developer and seller of the scheme was Houston-based the Morgan Group. “We have a sizable presence in South Florida and are actively continuing to seek investments across asset and risk classes an in all major sectors,” said Michael Fisk, TIAA Global Asset Management’s senior director of acquisitions for the Southeast region. “We are selective about our acquisitions but see positive indicators such as job growth, supply constraints, transportation enhancements and upward population trends in the region.”
