AvalonBay Communities Acquires Mixed-Use Property In Fort Lauderdale For $150M
410 Southeast 16th Court, Fort Lauderdale, FL, USA
$150,000,000
$131,233/SF
Building Size
1,143 SF
Asset Type
Mixed-use
Closing
Oct 28, 2021
AI
The mixed-use property located at 410 SE 16th Court in Fort Lauderdale has been sold in a closed transaction. The property spans across 3.2 acres and was sold for a total of $150,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $150,000,000
- Address: 410 SE 16th Court, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: AvalonBay Communities - Timothy Naughton
- Seller: Ram Realty Advisors - Casey Cummings & Jim Stine
- Acres: 3.2
- Units: 243
- Price per Unit (PPU): $617,284
AvalonBay Communities, represented by Timothy Naughton, has acquired the property from Ram Realty Advisors, represented by Casey Cummings and Jim Stine.
Players
Fort Lauderdale 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93