MAXX Properties Expands in Hot South Florida Market with Off-Market Deal

PLANTATION, FL – April 21, 2026 – In a move that underscores the continued investor appetite for South Florida real estate, MAXX Properties has announced its acquisition of The Ellery, a 250-unit, Class A multifamily community in the desirable submarket of Plantation. The transaction, sourced directly through an off-market arrangement, further solidifies the firm's growing presence in a region defined by robust economic fundamentals and sustained population growth.

The property, a modern lakeside community built in 2018, was formerly known as Bell at Plantation. Its acquisition and subsequent rebranding represent a significant addition to the portfolio of MAXX Properties, a fourth-generation, family-owned real estate firm now in its 90th year of operation.

South Florida's Unrelenting Multifamily Appeal

The deal arrives as South Florida continues to cement its reputation as a national hotspot for multifamily investment. The region's vibrant economy, favorable tax climate, and consistent influx of new residents have created a high-demand, landlord-favorable environment. Investors are increasingly drawn to well-located, high-quality assets that promise stable returns and long-term value appreciation.

Submarkets like Plantation are particularly attractive, offering residents a blend of suburban tranquility and convenient access to major employment hubs, retail centers, and dining. The Ellery's location near the sprawling Sawgrass Mills shopping destination is a key draw. This strategic positioning within a thriving metropolitan area makes properties like The Ellery prime targets for experienced operators looking to capitalize on regional growth trends. The acquisition is a clear signal that institutional-grade capital continues to view South Florida as a top-tier market for deployment, even amid broader economic uncertainties.

A Strategic Play for MAXX Properties

For MAXX Properties, the acquisition of The Ellery is not an isolated event but a deliberate step in a focused regional strategy. This purchase marks the firm's continued expansion in Florida, following its 2024 acquisition of ANKR Wilton Manors, a 145-unit property in a nearby Fort Lauderdale suburb. This pattern of acquisitions highlights a clear commitment to building a significant footprint in the Southeast.

"This acquisition reflects our continued focus on high-quality communities in strong submarkets where we can create long-term value through hands-on ownership and operational expertise," said Adam Fruitbine, Chief Investment Officer of MAXX Properties, in the company's announcement. "We're excited to build on The Ellery's strong foundation while enhancing the residential experience."

This philosophy of hands-on, value-add ownership is central to the firm's identity. As a vertically-integrated owner, operator, and investment manager with a portfolio now totaling 35 communities and approximately 9,400 units across seven states, MAXX Properties leverages its extensive experience to identify and improve assets. This approach allows the company to implement operational efficiencies and capital improvements designed to boost both resident satisfaction and investment returns.

Rebranding with a Nod to History

In a thoughtful touch, MAXX Properties has rebranded the community from Bell at Plantation to The Ellery. The new name pays homage to Ellsworth D. Gage, the first mayor of Plantation, grounding the modern asset in the city's local history. This move suggests a long-term commitment to integrating the property within the community, rather than simply managing it as a passive investment.

The Ellery itself consists of eight lakeside buildings offering a mix of one-, two-, and three-bedroom luxury residences. The apartments feature open-concept layouts and private balconies. The community's resort-style amenities are a major component of its appeal, including a swimming pool with private cabanas, dedicated yoga and boxing studios, a private movie theater, and scenic waterfront walkways, all designed to cater to a lifestyle-focused tenant base.

Elevating Luxury in a Competitive Market

MAXX Properties plans to implement a series of capital improvements to further enhance The Ellery's market position. Planned upgrades include enhancements to curb appeal, refreshed amenity spaces, selective interior unit renovations, and the integration of new technology offerings. This value-add strategy is crucial in the competitive Plantation rental market, where a host of luxury communities compete for discerning residents.

Properties such as The Rise Plantation Walk and Leena Plantation set a high bar, offering state-of-the-art fitness centers, co-working spaces, and premium interior finishes like quartz countertops and smart-home features. By investing in targeted upgrades, MAXX Properties aims to ensure The Ellery not only competes with but stands out among its peers. Such renovations are a proven method in the multifamily sector for driving value, often allowing owners to command higher rents and achieve stronger occupancy rates by delivering a superior product and resident experience.

The Art of the Off-Market Deal

The fact that The Ellery was acquired through an off-market transaction is itself significant. In a highly competitive market like South Florida, off-market deals—which are negotiated privately between buyer and seller without public listing—offer substantial strategic advantages. They allow buyers to avoid bidding wars, which can drive up prices, and provide both parties with greater discretion and flexibility in negotiations.

Successfully sourcing and executing such deals requires deep market knowledge, strong industry relationships, and a reputation for being a reliable counterparty. For a firm like MAXX Properties, securing a Class A asset directly from the seller demonstrates its robust network and market intelligence. This approach allows the company to acquire properties on its own terms and timeline, a critical advantage for an investor with a precise, long-term strategic vision. This transaction, facilitated by advice from CBRE South Florida for the seller and debt financing secured by CBRE New York for the buyer, showcases a sophisticated execution that positions MAXX Properties for continued growth in the region.