Updated Dec 4, 2024
Related Group And BH Group Acquire Pompano Beach Development Site For $47.5M
20 N Ocean Blvd Pompano Beach, FL 33062, USA
$47,500,000
Building Size
—
Asset Type
Development Site
Closing
Jun 1, 2023
About this deal
AI
Related Group and BH Group have purchased a 3.7-acre Pompano Beach development site for $47.5 million. The waterfront property is located at 20 North Ocean Boulevard and holds approval for a mixed-use project. The planned development includes a 24-story condo tower, a 22-story hotel, and retail spaces.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $47,500,000
- Address: 20 North Ocean Boulevard
- Market: Pompano Beach
- Acres: 3.7
The buyer in this transaction is Related Group, represented by Jon Paul Pérez, Nick Pérez, and Jorge Pérez, along with BH Group, represented by Liat and Isaac Toledano. The seller is Chetrit Group, represented by Joe Chetrit. The lender involved in the deal is Centennial Bank.
On the Map
$47,500,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93