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803 Promenade Way

Updated May 12, 2025

Berkshire Residential Investments Acquires Multifamily Property In Jupiter For $135M Loan
FINANCEDMultiFamily

Berkshire Residential Investments Acquires Multifamily Property In Jupiter For $135M Loan

803 Promenade Way

$135,000,000

Units

390

Asset Type

MultiFamily

Closing

Apr 17, 2023

About this deal

AI

The property asset involved in this transaction is a multifamily complex located at 803 Promenade Way & 803 University Boulevard, comprising a total of 390 units in the Jupiter market. The acquisition loan for this asset was finalized at a loan amount of $135,000,000.

Summary of transaction details:

This transaction involved key individuals and companies, including lender representatives Mark Osher, Eric Steiglitz, and Zak Baron from Gibson, Dunn & Crutcher, as well as Matt Williams and James Maynard from Newmark. On the landlord's side, the representatives were Cara Nelson and Oriana Montani from DLA Piper, coordinating the acquisition process for Berkshire Residential Investments.

On the Map

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$135,000,000

MultiFamily

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Players

Mark Osher

Gibson, Dunn & Crutcher

Broker

$515.5M

vol

3 deals

Broker
Berkshire Residential Investments
Berkshire Residential InvestmentsLender
Berkshire Residential Investments
Berkshire Residential InvestmentsLandlord
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Jupiter MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $346.2K per unit across 390 units on a published $135M (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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