Blackstone Group Acquires Industrial Properties In Pompano Beach For $45.9M
$45,900,000
SOLD
$45,900,000
+ 2
Florida
See Similar DealsIndustrial270,000 SF
Sold 08/11/2020
$45,900,000
SOLD
Blackstone Group Acquires Industrial Properties In Pompano Beach For $45.9M
1800 North Commerce Parkway, Weston, FL, USA
See Similar DealsIndustrial270,000 SF
Sold 08/11/2020
+ 2
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$170
Total Square Footage:270,000 SF
Transaction Type:Sale
The transaction involved an industrial property located at 1800-1880 North Commerce Parkway, 2121 Northwest 15th Avenue, 935 Northwest 31st Avenue, and 3400-3450 Park Central Boulevard in Pompano Beach. The property was sold for $45,900,000, encompassing 270,000 square feet, with a price per square foot of $170.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $45,900,000
- Square Footage: 270,000
- Price per Square Foot: $170
- Seller: Elion Partners - Shlomo Khoudari
- Buyer: Blackstone Group - Jon Gray, Stephen Schwarzman, Kathleen McСarthy, Ken Caplan
- Market: Pompano Beach
Key individuals involved in the deal include Shlomo Khoudari representing the seller as part of Elion Partners and Jon Gray, Stephen Schwarzman, Kathleen McСarthy, and Ken Caplan representing the buyer, Blackstone Group. Their roles highlight the collaboration of experienced professionals in executing this significant transaction.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,448,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,073.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$217,589.42
Annual Debt Service$2,611,073.01
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