Thomas Tomanek & Associates Acquires Mixed-Use Property In Fort Lauderdale For $195M
500 North Andrews Avenue, Fort Lauderdale, Florida 33301, United States
$195,000,000
$321/SF
Building Size
606,213 SF
Asset Type
Mixed-use
Closing
Mar 24, 2022
About this deal
AI
The mixed-use property located at 500 N Andrews Avenue in Fort Lauderdale has been sold for a price of $195,000,000. The transaction took place on March 25, 2022. The property encompasses a total of 385 units and spans across 606,213 square feet. The price per unit is $506,494, while the price per square foot is $322.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $195,000,000
- Address: 500 N Andrews Avenue, Fort Lauderdale
- Market: Fort Lauderdale
- Units: 385
- Price per Unit: $506,494
- Square Footage: 606,213
- Price per Square Foot: $322
The buyer in this transaction is Thomas Tomanek & Associates, represented by Angelita Tomanek & Larissa Tomanek. On the other hand, the seller is Bluerock, represented by Ramin Kamfar, and ArchCo Residential, represented by Neil Brown. The lender involved in the deal is Voya Investment Management.
Players
Fort Lauderdale Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93