Blackstone Real Estate Acquires Mixed-Use Property In Boynton Beach For $171M
SOLD
$171,000,000
Florida
See Similar DealsMixed-use2,000 SF
Sold 09/02/2021
SOLD
Blackstone Real Estate Acquires Mixed-Use Property In Boynton Beach For $171M
1351 South Federal Highway, Boynton Beach, FL, USA
See Similar DealsMixed-use2,000 SF
Sold 09/02/2021
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$85,500
Total Square Footage:2,000 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$607,526.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$810,627.24
Annual Debt Service$9,727,526.88
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