Updated Oct 28, 2024
Cardone Capital Acquires Multifamily Asset In Sunrise & Weston For $355M
1640 Northwest 128th Drive, Sunrise, Florida 33323, United States
$355,000,000
Units
972
Asset Type
MultiFamily
Closing
Dec 10, 2021
About this deal
AI
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
Sunrise 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93