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13th Floor Investments Acquires Development Site In Hallandale Beach For $18.5M

Property Image
SOLD
$18,500,000
Luca Victoria
Simon Banke
Maurice Habif
+ 3

Florida

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Development Site673,438 SF
Sold 11/17/2021
the dealplayerscompscontact
Property Image
SOLD

13th Floor Investments Acquires Development Site In Hallandale Beach For $18.5M

2002 Pembroke Road, Hallandale Beach, FL, USA

See Similar Deals
Development Site673,438 SF
Sold 11/17/2021
Luca Victoria
Simon Banke
Maurice Habif
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$27
Total Square Footage:673,438 SF
Transaction Type:Sale

The development site located at 2002 Pemproke Road in Hallandale Beach has been sold for a price of $18,500,000. The property spans a site size of 673,438 square feet, resulting in a price per square foot of $27.

Summary of transaction details

The successful transaction was facilitated by Manny De Zarraga, Simon Banke, Maurice Habif, Jo Rousseau, and Luca Victoria from JLL Capital Markets. Their expertise and negotiation skills played a crucial role in ensuring a smooth sale of the development site.

Players

Manny de Zarraga
JLL
Manny de Zarraga
18 deals$2B volume
BROKER
Maurice Habif
JLL
Maurice Habif
19 deals$1B volume
BROKER
Simon Banke
JLL
Simon Banke
26 deals$1.4B volume
BROKER
Jo Rousseau
JLL
Jo Rousseau
6 deals$429.1M volume
BROKER
Luca Victoria
JLL
Luca Victoria
8 deals$364.3M volume
BROKER
1I
13th Floor Investments
BUYER
WS
William Spencer
2 deals$63.5M volume
SELLER

Details

SOLD
IMAGE: Jo Rousseau, Luca Victoria, Simon Banke, Manny De Zarraga & Maurice Habif DATE: 11/17/2021 ADDRESS: 2002 Pemproke Road MARKET: Hallandale Beach ASSET TYPE: Development Site BUYER: 13th Floor Investments SELLER: TS&B III – Managed by Mark Butler, William Spencer & Ralph Thompson BROKERS: Manny De Zarraga, Simon Banke, Maurice Habif, Jo Rousseau & Luca Victoria - JLL Capital Markets SALE PRICE: $18,500,000 Site Size: 673,438 ~ PPSF: $27

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

$986,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26