Andy Burnham Of White Oak Development Purchases Development Site In Plantation For $8.5M
321 North University Drive
$8,500,000
Building Size
—
Asset Type
Development Site
Closing
Sep 25, 2025
AI
White Oak Development purchased a 5.7-acre development site located at 321 North University Drive in the Plantation market for $8,500,000. The property is approved for the construction of 297 apartments, which will feature amenities such as pickleball courts, a coworking lounge, and a golf simulator. Groundbreaking for the project is expected to commence in the first quarter of 2026.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,500,000
- Buyer: Andy Burnham - White Oak Development
- Seller: Art Falcone - Encore Capital Management
- Site Area: 5.7 acres
- Address: 321 North University Drive
- Market: Plantation
- Number of Approved Apartments: 297
- Amenities: Pickleball courts, coworking lounge, golf simulator
- Expected Groundbreaking: Q1 2026
Andy Burnham represents White Oak Development in this transaction, while Art Falcone represents Encore Capital Management. The buyer and seller executed this notable deal through their respective entities EHOFDH Development LLC and White Oak Development, marking a significant transaction in the Plantation area.
Players
Plantation Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93