Updated Jan 21, 2026
Kenneth L. Stiles Of Stiles Corp Acquires Development Site In Plantation For $8.25M
8201 Peters Road
$8,250,000
Units
384
Asset Type
Development Site
Closing
Jan 20, 2026
About this deal
AI
A 4.88-acre multifamily development site located at 8201 & 8151 Peters Road in the Plantation market was sold for $8,250,000. The asset is situated within the Plantation Crossroads office park and is intended for a 384-unit apartment project that will feature a parking garage, aligning with the trend of converting surplus office parking into residential developments across South Florida.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,250,000
- Buyer: Kenneth L. Stiles - Stiles Corp
- Seller: Andrew Farkas - C-III Capital Partners
- Acres: 4.88
This transaction reflects the involvement of Kenneth L. Stiles, who represents Stiles Corp as the buyer, and Andrew Farkas, who represents C-III Capital Partners as the seller. The completion of this deal supports the construction of residential units, expanding the housing options within the region.
On the Map
$8,250,000
Development Site
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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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93