Pinnacle Sells Elyps in Fort Lauderdale for $46.5 Million

FORT LAUDERDALE, FLA. — Pinnacle, a Miami-based developer, has sold Elyps in Fort Lauderdale for $46.5 million. The buyer was an affiliate of Oakland Park, Florida-based Rental Asset Management (RAM). CBRE represented Pinnacle in the transaction. Completed in 2023, the waterfront Elyps is situated aside Osceola Creek. Amenities at the 140-unit community include a resort-style pool with grilling areas, a lounge with a wet bar and coffee station, a fitness center and bike storage and repair facilities. Pinnacle’s strategy for Elyps reflects the company’s focus on building, stabilizing and eventually selling market-rate properties.