Fort Partners Acquires Development Site In West Palm Beach From Yrezabal Giancarlo And Andrew Reily For $100M
SOLD
$100,000,000
Florida
See Similar DealsDevelopment Site
Sold
SOLD
Fort Partners Acquires Development Site In West Palm Beach From Yrezabal Giancarlo And Andrew Reily For $100M
3901 South Flagler Drive
See Similar DealsDevelopment Site
Sold
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
This development site is located at 3901 South Flagler Drive in West Palm Beach. It was sold for a total of $100,000,000, representing a significant transaction in the local real estate market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $100,000,000
- Buyer: Fort Partners
- Seller: Yrezabal Giancarlo, Andrew Reily & more
- Broker: Jessica Julian - Douglas Elliman
The transaction included key individuals such as Fort Partners as the buyer and Yrezabal Giancarlo and Andrew Reily as sellers. Jessica Julian of Douglas Elliman was the broker representing the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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