Ivy Realty Buys Half-Vacant Wells Fargo Tower

FORT LAUDERDALE, FL-Ivy Realty has snapped up One East Broward Blvd., a 19-story, 340,000-square foot class A office building in the gateway to Downtown Fort Lauderdale. The deal marks the fourth South Florida transaction for the real estate owner/operator in the past year. Financial terms of the deal were not disclosed.

“The South Florida market presents numerous opportunities for companies such as Ivy that have a track record purchasing well located but undercapitalized real estate assets and launching successful reinvestment programs that position these properties to meet market demand,” Anthony DiTommaso, Jr., co-CEO of Ivy Realty, tells GlobeSt.com. “We are actively looking for opportunities to expand our presence in the South Florida market.”