Stonelake Capital Partners Acquires Industrial Properties In Pompano Beach And Sunrise For $12.52M
1701 Blount Road & 5251 Northwest 103rd Avenue
$12,520,000
Building Size
—
Asset Type
Industrial
Closing
Aug 8, 2024
AI
An industrial asset located at 1701 Blount Road & 5251 Northwest 103rd Avenue in the markets of Pompano Beach and Sunrise has been sold. The transaction was completed on 08/08/2024 for a total price of $12,520,000, which includes the acquisition of a Pompano Beach building for $7.25 million and a Sunrise warehouse for $5.27 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,520,000
- Buyer: Stonelake Capital Partners
- Broker Representatives: Christian Baena & Greg Milopoulos - Lee & Associates
- Additional Transactions: This acquisition marks Stonelake's third and fifth deals in Broward County for the year.
Lee & Associates brokers, Greg Milopoulos and Christian Baena, facilitated these off-market industrial sales for Stonelake Capital Partners. The deals signify ongoing activity in the industrial real estate market, demonstrating the buyer's strategic expansion in the area.
Players
Pompano Beach Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93