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Stonelake Capital Partners Acquires Industrial Properties In Pompano Beach And Sunrise For $12.52M
SOLD
$12,520,000
Florida
See Similar DealsIndustrial
Sold 08/08/2024
SOLD
Stonelake Capital Partners Acquires Industrial Properties In Pompano Beach And Sunrise For $12.52M
1701 Blount Road & 5251 Northwest 103rd Avenue
See Similar DealsIndustrial
Sold 08/08/2024
Summary
FLORIDA
Asset Type:Industrial
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$667,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,480.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,351.19
Annual Debt Service$712,214.25
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