Updated Dec 4, 2024
The Related Group & Rockpoint Group Secure $69M Loan For Development Site In Boca Raton
5400 Broken Sound Blvd NW, Boca Raton, FL 33487, USA
$69,000,000
$703/SF
Building Size
98,064 SF
Asset Type
Development Site
Closing
May 5, 2020
About this deal
AI
A development site located at 5400 Broken Sound Blvd in Boca Raton has been sold in a closed transaction. The property, owned by The Related Group and Rockpoint Group, was purchased for a loan amount of $69,000,000 from Wells Fargo. The site spans across an area of square footage and consists of keys. The deal was finalized on 05/06/2020.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $69,000,000
- Address: 5400 Broken Sound Blvd, Boca Raton
- Lender: Wells Fargo
- Landlord: The Related Group & Rockpoint Group
- Keys: 297
Jorge Perez and Jon Paul Perez acted as the representatives for The Related Group in this deal. They negotiated on behalf of the landlord, ensuring a successful transaction.
Players
Boca Raton Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93