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1456 Cades Bay Avenue, Jupi...

Bainbridge Companies Acquires Multifamily Property In Jupiter For $161.1M
SOLDMultiFamily

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

KM
Klingbeil Capital ManagementSeller

Jupiter 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

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93