Mesirow Financial Acquires Multifamily Property In Fort Lauderdale For $83.5M
1600 East Sunrise Boulevard, Fort Lauderdale, FL, USA
$83,500,000
$69,179/SF
Building Size
1,207 SF
Asset Type
MultiFamily
Closing
May 25, 2020
AI
The multifamily property located at 1600-1700 East Sunrise Boulevard in Fort Lauderdale has been sold. The transaction took place on 05/25/2021.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $83,500,000
- Number of Units: 216
- Price per Unit: $386,574
- Total Acres: 4.2
- Price per Acre: $19,880,952
- Buyer: Mesirow Financial - Richard Price & Melissa Bean
- Seller: Greystar - Bob Faith; PGIMReal Estate
The buyer in this transaction was Mesirow Financial, represented by Richard Price & Melissa Bean. The seller was Greystar, represented by Bob Faith of PGIMReal Estate.
Players
Fort Lauderdale 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
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93