Joseph Sambuco Of Colonnade Properties Purchases 75% Joint Venture In West Palm Beach For $10.5M
SOLD
$10,500,000
Florida
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Sold
SOLD
Joseph Sambuco Of Colonnade Properties Purchases 75% Joint Venture In West Palm Beach For $10.5M
1415 Centrepark Boulevard
See Similar DealsDevelopment Site
Sold
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
The property asset involved in the transaction is a development site located at 1415 Centrepark Boulevard in West Palm Beach. The sale was finalized at a price of $10,500,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,500,000
- Buyer: Joseph Sambuco - Colonnade Properties
- Seller: Bjarne Borg - Index Invest
- Seller's Representative: Bastian Schauer & Mark M. Rubin - Colliers
- Joint Venture Stake: 75%
This deal showcases the partnership formed between Colonnade Properties and Index Invest, highlighting the joint venture stake acquired by Colonnade Properties in the property, facilitating collaborative development efforts moving forward.
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BROKERAGE
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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