facebook
Traded Co logo
Submit

Cardone Capital Acquires Multifamily Asset In Sunrise & Weston For $355M

Property Image
SOLD
$355,000,000
Roberto Pesant
Omar Morales
Jaret Turkell
+ 1

Florida

See Similar Deals
MultiFamily
Sold 12/10/2021
the dealplayerscompscontact
Property Image
SOLD

Cardone Capital Acquires Multifamily Asset In Sunrise & Weston For $355M

1640 Northwest 128th Drive, Sunrise, Florida 33323, United States

See Similar Deals
MultiFamily
Sold 12/10/2021
Roberto Pesant
Omar Morales
Jaret Turkell
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Cardone Capital has acquired a multifamily property in Sunrise and Weston for a total of $355,000,000. The property, located at 1343 Saint Tropez Circle and 1640 NW 128th Drive, consists of 972 units. The purchase price translates to a per unit price of $365,226.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $355,000,000
  • Units: 972
  • Price Per Unit: $365,226

The deal was facilitated by Berkadia brokers Mitch Sinberg, Jaret Turkell, Roberto Pesant, and Omar Morales, who represented the seller, El-Ad National Properties.

Notable individuals present in the sale include Grant Cardone, Mitch Sinberg, Jaret Turkell, Roberto Pesant, and Omar Morales.

Players

Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Jaret Turkell
Berkadia
Jaret Turkell
49 deals$3.2B volume
BROKER
Roberto Pesant
Cushman & Wakefield
Roberto Pesant
32 deals$2.3B volume
BROKER
Omar Morales
Berkadia
Omar Morales
40 deals$2.7B volume
BROKER
Cardone Capital
Cardone Capital
BUYER
EP
El-Ad National Properties
SELLER

Details

SOLD
IMAGE: Grant Cardone (@GrantCardone), Mitch Sinberg, Jaret Turkell (@Deal_Crush), Roberto Pesant & Omar Morales (@OmarMora1es) DATE: 12/10/2021 ADDRESS: 1343 Saint Tropez Circle & 1640 NW 128th Drive MARKET: Sunrise & Weston ASSET TYPE: Multifamily BUYER: Cardone Capital SELLER: El-Ad National Properties BROKERS: Mitch Sinberg, Jaret Turkell, Roberto Pesant & Omar Morales - Berkadia SALE PRICE: $355,000,000 UNITS: 972 ~ PPU: $365,226

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$18,933,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,261,240.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,682,881.11
Annual Debt Service$20,194,573.35