Cardone Enterprises Group Inc Acquires Cottonwood Property From Courtelis Co For $50M
9932 Grande Lakes Boulevard, Orland...
$50,000,000
$205/SF
Building Size
243,602 SF
Asset Type
—
Closing
Nov 19, 2023
AI
The property at 9932 Grande Lakes Boulevard in the Cottonwood market has been sold for a transaction amount of $50,000,000.00. This property encompasses a total square footage of 243,602.
Summary of transaction details:
- Property Type: SALE
- Transaction Amount: $50,000,000.00
- Address: 9932 Grande Lakes Boulevard, Orlando
- Market: Cottonwood
- Square Footage: 243,602
- Buyer: Cardone Enterprises Group, Inc
- Seller: Courtelis Co
- Buyer's Representative: Mark Rutherford-Cushman & Wakefield, Chris Lentz-Cushman & Wakefield
- Seller's Representative: Ken DelVillar-JLL
The transaction involved Cardone Enterprises Group, Inc as the buyer and Courtelis Co as the seller, facilitated by the representatives from Cushman & Wakefield and JLL, respectively. Mark Rutherford and Chris Lentz represented the buyer, while Ken DelVillar represented the seller.
Players
Cottonwood CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93