CBRE Completes Sale of Florida Community

The firm brokered the sale of Sheridan Lake Club, a 240-unit property located in Dania Beach. The community traded to Electra America.

Sheridan Lake Club
Sheridan Lake Club

Electra America has purchased Sheridan Lake Club, a 240-unit community in Dania Beach, Fla. CBRE arranged the sale on behalf of the seller, Starwood Capital Group.

The property is located at 311 E. Sheridan St., near S. Federal Freeway and Interstate 95, within 20 minutes of Fort Lauderdale. Completed in 2001, Sheridan Lake Club comprises a mix of one- and two-bedroom apartments, averaging 913 square feet. The units feature washers and dryers, monitored security, vaulted ceilings, as well as above standard ceiling height. Communal area amenities include:

  • controlled access
  • waterscape
  • fitness center
  • business center
  • 2,400-square-foot clubhouse
  • swimming pool

“The buyer is an experienced owner and operator of apartments throughout the Southeastern United States, and has successfully executed similar value-add strategies many times in the past,” added Chris Smiles of CBRE, in prepared remarks. “Sheridan Lake Club offers a unique multifamily product in a rapidly developing corridor proximate to some of Broward County’s largest demand drivers.”

Smiles, together with Still Hunter III represented the seller in the transaction.

Image courtesy of CBRE