Updated Oct 28, 2024
Brookline Investment Group Acquires 8.8 Acre Multifamily Property In Homestead For $82M
13700 Southwest 256th Street, Homestead, Florida 33032, United States
$82,000,000
Units
281
Asset Type
MultiFamily
Closing
Oct 3, 2022
About this deal
AI
Located at 13700 SW 256th Street in Homestead, this 8.8-acre multifamily property was recently sold in a closed transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $82,000,000
- Units: 281
- Price per Unit: $291,815
The buyer of the property was Brookline Investment Group, while the seller consisted of AEW Capital Management represented by Jeff Furber and Grand Peaks Properties represented by Luke Simpson. The transaction was facilitated by JLL.
This sale presents a significant investment opportunity in Homestead's market, with a substantial transaction value and a sizeable multifamily asset. The involvement of reputable companies like AEW Capital Management, Grand Peaks Properties, and JLL further solidifies the credibility and quality of this transaction.
On the Map
$82,000,000
MultiFamily
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Players
Homestead 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
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93