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

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.