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Northlake Blvd, Palm Beach ...

Centaur Group Acquires 392-Acre Development Site In Palm Beach Gardens For $60M
SOLDDevelopment Site

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.

Players

David Serviansky

Avenir Holdings

Seller

$203M

vol

3 deals

Seller

Palm Beach Gardens 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

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93