Alta Developers And Henry Pino Acquire Multifamily Property In Fort Lauderdale For $127.5M
421 Northeast 6th Street, Florida City, FL 33030, 33034
$127,500,000
$71,229/SF
Building Size
1,790 SF
Asset Type
MultiFamily
Closing
Dec 19, 2019
AI
Located at 421 Northeast Sixth St in Fort Lauderdale, this multifamily property consists of 214 units. The transaction took place on 12/20/2019, with a loan amount of $127,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $127,500,000
- Address: 421 Northeast Sixth St, Fort Lauderdale
- Market: Fort Lauderdale
- Units: 214
The lender for this transaction was Mack Real Estate Group. The landlord involved in the deal is Alta Developers, represented by Raimundo Onetto and Henry Pino.
Players
Homestead MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93