Kenneth Pasternak Of KABR Group Acquires Multifamily Asset In Daytona Beach For $49M

The multifamily asset involved in this transaction is the 262-unit Edison Daytona apartment complex located at 100 Alva Circle in Daytona Beach, Florida. The property was purchased for $49 million, translating to approximately $187,023 per unit, and was built in 2022. The acquisition was financed with a fixed-rate Fannie Mae loan of $38.68 million, maturing in 2031.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,000,000
• Units: 262
• Price Per Unit: $187,023
• Buyer: Kenneth Pasternak - KABR Group
• Seller: Chuck Whittall - Unicorp National Developments

KABR Group, represented by Kenneth Pasternak, successfully acquired the property from Chuck Whittall of Unicorp National Developments. This transaction showcases the continued investment in the Daytona Beach market and highlights key players in multifamily property development.