Centaur Group Acquires 392-Acre Development Site In Palm Beach Gardens For $60M
Northlake Blvd, Palm Beach Gardens, FL, USA
$60,000,000
Building Size
—
Asset Type
Development Site
Closing
Nov 4, 2021
AI
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.
Palm Beach Gardens Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93