Fairstead buys senior housing in Davie for $18M

Fairstead paid nearly $18 million for the Federation Davie Apartments in Davie, with plans to renovate the senior affordable housing property.

The Jewish Federation of Broward County sold the 80-unit building at 5701 SW 82nd Avenue for $17.9 million, or about $223,000 per unit, records show. The Housing Finance Authority of Broward County provided Fairstead with a $21.35 million loan. The financing includes the issuance of low-income housing tax credits and tax-exempt bonds.

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