New York City-based TIAA-CREF paid $114.4 million for a newly built apartment complex in Flagler Village, an emerging Fort Lauderdale neighborhood catching eyes with its budding arts scene and attractive multifamly market.

The public employee retirement fund purchased the Edge at Flagler Village from Pearl Flagler Village LLC, linked to Houston-based Morgan Group Inc., in a deal that broke down to $345,604 per apartment.

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