Updated Nov 28, 2024
PGIM Acquires Multifamily Asset In Plantation For $75M
10900 Northwest 17th Street, Plantation, FL, USA
$75,000,000
$190/SF
Building Size
393,454 SF
Asset Type
MultiFamily
Closing
Dec 25, 2019
About this deal
AI
The multifamily property located at 10900 Northwest 17th Street in Plantation has been sold for a price of $75,000,000. It is owned by Lindemann Multifamily Management, represented by George Lindemann, and has been purchased by PGIM. The property consists of 293 units, resulting in a price per unit of $255,972.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $75,000,000
- Address: 10900 Northwest 17th Street, Plantation
- Seller: Lindemann Multifamily Management - George Lindemann
- Buyer: PGIM
- Units: 293
- Price Per Unit: $255,972
George Lindemann, representing Lindemann Multifamily Management, brokered the deal for the seller, while PGIM acted as the buyer. This transaction marks a significant investment in the Plantation market, adding to PGIM's multifamily portfolio.
Players
Plantation MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93