Blackstone Real Estate Acquires Mixed-Use Property In Boynton Beach For $171M
1351 South Federal Highway, Boynton Beach, FL, USA
$171,000,000
$85,500/SF
Building Size
2,000 SF
Asset Type
Mixed-use
Closing
Sep 2, 2021
AI
The mixed-use property located at 1351 South Federal Highway in Boynton Beach has been sold in a recent transaction. The sale took place on 09/02/2021.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $171,000,000
- Units: 494
- Price Per Unit (PPU): $346,154
- Address: 1351 South Federal Highway, Boynton Beach
- Market: Boynton Beach
The buyer of the property is Blackstone Real Estate represented by Stephen A. Schwarzman and Jonathan Gray. They acquired the property from RangeWater Real Estate, with the transaction facilitated by Steven L. Shores and Michael Blair.
No additional information regarding the property or individuals involved in the deal has been provided.
Players
Boynton Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93