Bainbridge Companies Acquires Multifamily Property In Jupiter For $161.1M
1456 Cades Bay Avenue, Jupiter, Florida 33458, United States
$161,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 2, 2022
AI
The multifamily property located at 1456 Cades Bay Avenue & 4515 Main Street in Jupiter has been sold for a total of $161,100,000. The property encompasses 10.5 acres and consists of 304 units, resulting in a purchase price per unit of $529,934. The sale took place on 06/03/2022 and was facilitated by real estate companies Bainbridge Companies, TPG Real Estate Partners, and Klingbeil Capital Management. JPMorgan Chase Bank provided the financing for the transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $161,100,000
- Address: 1456 Cades Bay Avenue & 4515 Main Street
- Market: Jupiter
- Acres: 10.5
Richard Schechter and Avi Banyasz represented Bainbridge Companies and TPG Real Estate Partners, respectively, in the deal. The buyer's representatives worked alongside their respective agencies to successfully negotiate the purchase. Additionally, Klingbeil Capital Management acted as the seller in the transaction.
Players
Jupiter MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93