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10650 Washington Street, Pe...

Updated Dec 4, 2024

Bar Invest Group Acquires 358-Unit Multifamily In Pembroke Pines For $79.5M
SOLDMultiFamily

Bar Invest Group Acquires 358-Unit Multifamily In Pembroke Pines For $79.5M

10650 Washington Street, Pembroke Pines, FL, USA

$79,500,000

$5,138/SF

Building Size

15,471 SF

Asset Type

MultiFamily

Closing

Jan 11, 2021

About this deal

AI

Bar Invest Group, headed by Jacques Barbera, has acquired a multifamily property located at 10650 Washington Street in Pembroke Pines. The property consists of 358 units, spread across 26.6 acres. The transaction, facilitated by Starwood Capital Group as the seller, was closed on January 12, 2021, for a total price of $79,500,000. This equates to a price per unit of $222,067 and a price per acre of $2,988,722.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $79,500,000
  • Units: 358
  • Price per Unit: $222,067
  • Acres: 26.6
  • Price per Acre: $2,988,722
  • Buyer: Bar Invest Group - Jacques Barbera
  • Seller: Starwood Capital Group

Jacques Barbera, representing Bar Invest Group, spearheaded the acquisition of this multifamily property in Pembroke Pines. Starwood Capital Group acted as the selling party in the transaction. This deal signifies a significant investment in the local market.

On the Map

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$79,500,000

$5,138/SF

MultiFamily

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Players

Bar Invest Group
Bar Invest GroupBuyer
Starwood Capital Group
Starwood Capital GroupSeller
Starwood Capital Group
Starwood Capital GroupLender
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Pembroke Pines MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $5.1K per square foot on a published $79.5M for 15,471 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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