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9932 Grande Lakes Boulevard...

Cardone Enterprises Group Inc Acquires Cottonwood Property From Courtelis Co For $50M
SOLD

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

Ken DelVillar

JLL

Broker

$551.6M

vol

10 deals

Broker
Cardone Capital
Cardone CapitalBuyer

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