The sale price was confidential, according to an Apartment Realty Advisors spokesperson. However, the Fort Lauderdale submarket showed pricing at $73,000 per unit in 2003, up 8% since 2002, according to a recent report by Encino, CA-based Marcus & Millichap Real Estate Investment Brokerage Co. Based on this, the sale price comes to just less than $18 million. BridgeSide Place was completed in 2001 and is among the county's newest high-rise developments.

The Broward County property consists of a 15-story upscale residential and commercial building, along with a five-level parking garage. The commercial space consists of 12,210 sf of retail space on the ground level and 29,226 sf of offices on the second and third stories. The apartments have one, two and three bedrooms. The building is located at 3020 N.E. 32nd Ave. and offers views of the Atlantic Ocean, the Intracoastal Waterway and Downtown.

Amenities include a 24-hour lobby concierge/attendant; valet parking; a 2.5-acre residential podium with a pool, sun deck and spa; a clubhouse; a fitness facility; tennis courts; an executive business center with conference facilities; air-conditioned and exterior (garage) storage lockers; and a putting green. The residences feature private terraces, two-bedroom floor plans with split bedroom layouts, gourmet kitchens, walk-in closets in most master and secondary bedrooms, extra-large capacity washers and dryers, individual central air-conditioning and heating, and ceramic tile kitchens, bathrooms and entry foyers.

The Florida office of Apartment Realty Advisors, a national multifamily brokerage and investment advisory firm, represented ING Clarion partners in the transaction. Marc deBaptiste and Dick Donnellan, both principals in Apartment Realty Advisors, led the company's marketing team.

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