Updated Mar 11, 2025
Aimco Acquires Development Site In Fort Lauderdale For $49M
520 West Broward Boulevard, Fort Lauderdale, Florida 33301, United States
$49,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 18, 2022
About this deal
AI
Located in Fort Lauderdale, a development site spanning 4.18 acres has been sold in a recent transaction. The property, situated at 520 W Broward Blvd and 300 W Broward Blvd, was acquired by Aimco and Kushner Cos. represented by Charles Kushner, Nicole Kushner Meyer, and Laurent Morali. The seller of the site was Swire Properties. The sale, which took place on January 18, 2022, was facilitated by MSD Partners.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $49,000,000
- Market: Fort Lauderdale
- Asset Size: 4.18 acres
The deal involved the collaboration of Aimco, Kushner Cos., and Swire Properties. Charles Kushner, Nicole Kushner Meyer, and Laurent Morali represented the buyer's side. MSD Partners played a crucial role as the lender in this transaction.
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93