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Condo Conversion Project Hires Sales Firm

LAUDERDALE-BY-THE-SEA, FL-TIR Sales & Marketing is the sales and marketing agency for the 15-story Ocean Place Condominium, a luxury project that formerly was the Kensington Apartments here. Units start in the $200,000s.

By Melissa Bogdany | Updated on August 05, 2004

LAUDERDALE-BY-THE-SEA, FL-TIR Sales & Marketing, a division of Turnberry International Realty, has been named the exclusive sales and marketing agency for Ocean Place Condominium, a 15-story oceanfront project that is the transformation of the former Kensington Apartments tower here.The 256-unit, luxury project is located at 1900 S. Ocean Blvd and features one- and two-bedroom residences with five floor plans. The units are priced from the $200,000s.Bainbridge Communities bought the Kensington Apartments last fall for $42.5 million, or $166,015 per unit, with plans to convert it. Bainbridge got a $36-million acquisition loan and a $17.3-million equity and mezzanine investment for the project.TIR Sales & Marketing also is the exclusive on-site sales agency for the Atrium at Aventura, a 192-unit, luxury condo project planned for Aventura, and the 203-room Cheeca Lodge & Spa in Islamorada.

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