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Lennar Homes Acquires Land In Wellington For $190M

Property Image
SOLD
$190,000,000

Florida

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Sold 04/19/2022
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Property Image
SOLD

Lennar Homes Acquires Land In Wellington For $190M

Southern Blvd, West Palm Beach, Florida 3 3411, United States

See Similar Deals
Sold 04/19/2022
the dealplayerscompscontact
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Summary

FLORIDA
Transaction Type:Sale

A land located at Southern Blvd & The L-8 Canal in Wellington has been sold for a whopping price of $190,000,000. The transaction took place on April 19, 2022, and the buyer was Lennar Homes, represented by Stuart Miller. The seller was Freehold Communities.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $190,000,000
  • Date: 04/19/2022
  • Address: Southern Blvd & The L-8 Canal
  • Market: Wellington

Stuart Miller from Lennar Homes acted as the buyer's representative in this deal.

Players

Stuart Miller
Lennar
Stuart Miller
35 deals$1.6B volume
BUYER

Details

SOLD
IMAGE: Stuart Miller DATE: 04/19/2022 ADDRESS: Southern Blvd & The L-8 Canal MARKET: Wellington ASSET TYPE: Land BUYER: Lennar Homes - Stuart Miller SELLER: Freehold Communities SALE PRICE: $190,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$10,133,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$675,029.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$900,696.93
Annual Debt Service$10,808,363.20