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Rental Asset Management Acquires Multifamily Property In Boca Raton For $20M

Property Image
SOLD
$20,000,000
Mitch Sinberg
Matthew (Matt) Robbins
OM

Florida

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MultiFamily84,510 SF
Sold 08/02/2021
the dealplayerscompscontact
Property Image
SOLD

Rental Asset Management Acquires Multifamily Property In Boca Raton For $20M

1551 Northwest 13th Street, Boca Raton, FL, USA

See Similar Deals
MultiFamily84,510 SF
Sold 08/02/2021
Mitch Sinberg
Matthew (Matt) Robbins
OM
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$236
Total Square Footage:84,510 SF
Transaction Type:Sale

Located at 1551-1601 NW 13th St in Boca Raton, this multifamily property has been sold for $20,000,000. The transaction took place on 08/02/2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $20,000,000
  • Units: 84
  • Price Per Unit: $238,095
  • Acres: 6.7
  • Price Per Acre: $2,985,075
  • Market: Boca Raton

Rental Asset Management acquired the property from 3T Country Club Village, represented by Oded Meltzer. The mortgage brokers involved in the deal were Mitch Sinberg and Matthew Robbins from Berkadia.

Players

Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
RM
Rental Asset Management
BUYER
OM
Oded Meltzer
2 deals$40M volume
SELLER

Details

SOLD
IMAGE: Matthew Robbins & Mitch Sinberg DATE: 08/02/2021 ADDRESS: 1551-1601 NW 13th St MARKET: Boca Raton ASSET TYPE: Multifamily BUYER: Rental Asset Management SELLER: 3T Country Club Village - Oded Meltzer MORTGAGE BROKERS: Mitch Sinberg & Matthew Robbins - Berkadia SALE PRICE: $20,000,000 UNITS: 84 ~ PPU: $238,095 ACRES: 6.7 ~ PPA: $2,985,075

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44