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321 North University Drive

Andy Burnham Of White Oak Development Purchases Development Site In Plantation For $8.5M
SOLDDevelopment Site

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

Andy Burnham

White Oak Development

Buyer

$153.3M

vol

5 deals

Buyer

Art Falcone

Encore Capital Management

Seller

$771.7M

vol

12 deals

Seller

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