Updated Jan 27, 2026
Joseph Sambuco Of Colonnade Properties Purchases 75% Joint Venture In West Palm Beach For $10.5M
1415 Centrepark Boulevard
$10,500,000
Building Size
—
Asset Type
Development Site
Closing
Jan 11, 2026
About this deal
AI
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.
On the Map
$10,500,000
Development Site
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Players
West Palm Beach Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93