Updated Oct 29, 2024
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
About this deal
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.
The multifamily loan at 421 Northeast 6th Street, Florida City, FL 33030, 33034 in Homestead, Florida financed for $127.5M in 2019. Reported inventory is 1,790 square feet across 214 units, or about 71.2K per square foot. Named participants on the 421 Northeast 6th Street, Florida City, FL 33030, 33034 loan are Raimundo Onetto, Henry Pino. This page is the Homestead, Florida file for the 421 Northeast 6th Street, Florida City, FL 33030, 33034 multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Homestead sit in the Market section below. Filter that Homestead multifamily set by closing date to see what else financed near 421 Northeast 6th Street, Florida City, FL 33030, 33034 around 2019. Published consideration for 421 Northeast 6th Street, Florida City, FL 33030, 33034 is $127.5M, dated 2019. Cite this Alta Developers And Henry Pino Acquire Multifamily Property In Fort Lauderdale For $127.5M loan when underwriting similar multifamily product around Homestead, Florida.
Players
Homestead MultiFamily Market Snapshot
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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