A street view of the ORA Flagler Apartments in downtown Fort Lauderdale. Credit: Google A street view of the ORA Flagler Apartments in downtown Fort Lauderdale. Credit: Google

A company with Silicon Valley ties bought a new apartment building in a trendy downtown Fort Lauderdale neighborhood for $92.9 million in the second major multifamily deal in Broward County in two weeks.

WTI Inc., based in Cupertino, California, bought ORA Flagler Village Apartments on Tuesday from Fairfield Residential Co. LLC, a San Diego-based multifamily development and management company.

ORA Flagler Village is a 292-unit building on 2.4 acres at 673 NE Third Ave. in trendy Flagler Village. It's a 424,412-square-foot property, according to the Broward County property records. The deal breaks down to $318,151 per unit.

The buyer is affiliated with a former executive at Wyse Technology, a cloud computing company acquired by Dell in 2011, according to real estate publication The Real Deal, which first reported the transaction.

Flagler Village, a once-neglected warehouse district north of Broward Boulevard from Federal Highway to the Florida East Coast Railway, has been transformed by high-rise redevelopment. Yoga studios, coffee shops and breweries set up in renovated warehouses, three hotels opened, and several apartment buildings were completed or are in the pipeline.

The 385-unit Motif is set to open in January on a block northeast of Andrews Avenue and Northwest Fifth Street. The 350-unit Modera 555 is to rise at 555 NE Eighth St.

With many exterior walls covered with murals, Flagler Village is being developed with the arts community in mind. It's home to the FATVillage arts district and the MASS District.

ORA Flagler Village is less than a mile from the Brightline train station on the edge of Flagler Village.

The apartment building has studios and one- and two-bedroom units. Rents range from $1,530 to $2,490 a month, according to ORA's website.

Amenities include a dog-wash area, gym, yoga room, bicycle repair shop and storage, and a virtual moving concierge that provides complimentary address change and other home setup services.

The high-value deal is in line with a busy multifamily market fueled by strong demand capitalizing on population and job growth.

Investment appetite has been healthy in the sector. The record-setting transaction this year was the $322 million sale of The Avant at Pembroke Pines, a garden-style community with 1,520 units, which sold to Dallas-based real estate investment trust NexPoint Residential Trust Inc. on Aug. 30.

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