Daily limit: 0/10
Rockpoint Acquires 87.8-Acre Industrial Site In Pompano Beach, FL For $180M
SOLD
$180,000,000
Florida
See Similar DealsDevelopment Site
Sold 11/09/2023
SOLD
Rockpoint Acquires 87.8-Acre Industrial Site In Pompano Beach, FL For $180M
777 Isle of Capri Boulevard
See Similar DealsDevelopment Site
Sold 11/09/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site spanning 87.8 acres has been sold in Pompano Beach, FL. The property located at 777 Isle of Capri Boulevard was acquired by Rockpoint, a real estate investment firm led by Tom Gilbane. The transaction was completed without the involvement of brokers and the sale price was recorded at $180,000,000.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $180,000,000
- Market: Pompano Beach
- Buyer: Rockpoint - Tom Gilbane
This significant acquisition marks an expansion of Rockpoint's presence in South Florida. The purchase of the 87.8-acre industrial site is part of a larger development called The Pomp, spanning 223 acres. The project is a joint venture between Rockpoint, Cordish Companies, and Caesars Entertainment. The all-cash transaction is set to facilitate development, with construction anticipated to commence in May 2024.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,600,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$639,501.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$853,291.83
Annual Debt Service$10,239,501.98
Is there something missing? Send suggestions