U.S. real estate investment firm Mast Capital has bought The Quay, a 73,000-square-foot mixed-use shopping center in Fort Lauderdale, Florida for a purchase price of $43 million.
The Quay, located on seven acres along South 17th Street near the Stranahan River, includes a two-story office building and Boathouse of Fort Lauderdale marina.
Acquired from Hudson Capital Group Inc., the property was fully leased at the time of the sale to tenants including Boatyard Restaurant, the U.S. Postal Service and Chipotle Mexican Grill.
Mast Capital secured the acquisition financing from CIT Bank provided, and real estate company Axiom Capital Advisors arranged the sale.