AG Essential Housing Multi State 1 LLC Acquires 13.2 Acre Development Site In Pembroke Pines For $15.9M
SOLD
$15,900,000
Florida
See Similar DealsDevelopment Site7,328 SF
Sold 07/02/2020
SOLD
AG Essential Housing Multi State 1 LLC Acquires 13.2 Acre Development Site In Pembroke Pines For $15.9M
16000 Pines Blvd, Pembroke Pines, FL, USA
See Similar DealsDevelopment Site7,328 SF
Sold 07/02/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$2,169
Total Square Footage:7,328 SF
Transaction Type:Sale
A 13.2-acre development site located at 16000 Pines Blvd in Pembroke Pines has been sold for a total of $15,900,000. The property was purchased by AG Essential Housing Multi State 1 LLC from Lennar Homes, with the sale closing on July 2, 2021. The price per acre for this transaction amounts to $1,204,545.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,900,000
- Address: 16000 Pines Blvd, Pembroke Pines
- Market: Pembroke Pines
Rick Beckwitt and Stuart Miller played crucial roles as the representatives for Lennar Homes in this deal. They successfully facilitated the sale of the development site to AG Essential Housing Multi State 1 LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$847,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,489.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,374.11
Annual Debt Service$904,489.34
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