Centaur Group Acquires 392-Acre Development Site In Palm Beach Gardens For $60M
SOLD
$60,000,000
Florida
See Similar DealsDevelopment Site
Sold 11/05/2021
SOLD
Centaur Group Acquires 392-Acre Development Site In Palm Beach Gardens For $60M
Northlake Blvd, Palm Beach Gardens, FL, USA
See Similar DealsDevelopment Site
Sold 11/05/2021
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at Northlake Blvd & Avenir Dr in Palm Beach Gardens has been sold for a total price of $60,000,000. The property spans approximately 392 acres and was purchased by Centaur Group, with Dominik Senn representing the buyer in the transaction. The seller was Avenir Holdings, with David Serviansky as their representative.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $60,000,000
- Location: Northlake Blvd & Avenir Dr, Palm Beach Gardens
- Market: Palm Beach Gardens
- Acres: 392
Dominik Senn, from Centaur Group, played a key role as the buyer's representative in the deal. Meanwhile, David Serviansky represented Avenir Holdings as the seller's representative. This transaction marks a significant development site sale in Palm Beach Gardens.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,167.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,430.61
Annual Debt Service$3,413,167.33
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