GL Homes Acquires 190 Acres Of Land In Boca Raton From City Of Boca Raton For $65.7M
SOLD
$65,700,000
Florida
See Similar Deals4,077 SF
Sold 11/08/2021
SOLD
GL Homes Acquires 190 Acres Of Land In Boca Raton From City Of Boca Raton For $65.7M
8111 Golf Course Road, Boca Raton, FL, USA
See Similar Deals4,077 SF
Sold 11/08/2021
Summary
FLORIDA
Price Per Square Foot:$16,114
Total Square Footage:4,077 SF
Transaction Type:Sale
The City of Boca Raton has sold a parcel of land located at 8111 Golf Course Road in Boca Raton, with a total area of 190 acres. The sale was completed on November 8, 2021, with GL Homes represented by Misha Ezratti as the buyer and the City of Boca Raton as the seller. The transaction amount for this land sale was $65,700,000.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $65,700,000
- Address: 8111 Golf Course Road
- Market: Boca Raton
- Acres: 190
Misha Ezratti, representing GL Homes, played a key role in the transaction as the buyer's representative. This successful deal showcases the strategic real estate investments made by both the City of Boca Raton and GL Homes in the desirable market of Boca Raton.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,504,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$233,418.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$311,451.52
Annual Debt Service$3,737,418.22
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