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

Property Image
SOLD
$20,000,000
Perry Synanidis
Garrett Pordes
Calum Weaver
+ 2

Florida

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MultiFamily77,220 SF
Sold 07/23/2020
the dealplayerscompscontact
Property Image
SOLD

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

1601 Northwest 13th Street, Boca Raton, FL, USA

See Similar Deals
MultiFamily77,220 SF
Sold 07/23/2020
Perry Synanidis
Garrett Pordes
Calum Weaver
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$259
Total Square Footage:77,220 SF
Transaction Type:Sale

A multifamily property located at 1601 NW 13th Street in Boca Raton has been sold for $20,000,000. The property consists of 84 units, with an average price per unit of $238,095. The total square footage of the property is 77,220, resulting in a price per square foot of $259.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $20,000,000
  • Address: 1601 NW 13th Street, Boca Raton
  • Market: Boca Raton

The buyer in this transaction was Rental Asset Management, represented by Axel Jordan & German Guzman. The seller was Country Club Village, with Oded Meltzer as the seller's representative. The deal was facilitated by Calum Weaver, Perry Synanidis, and Garrett Pordes from Cushman & Wakefield.

Players

Calum Weaver
CBRE
Calum Weaver
30 deals$621.2M volume
BROKER
Garrett Pordes
Cushman & Wakefield
Garrett Pordes
3 deals$48.1M volume
BROKER
Perry Synanidis
CBRE
Perry Synanidis
18 deals$273.4M volume(352) 278-7572
BROKER
RM
Rental Asset Management
BUYER
AJ
Axel Jordan
2 deals$50.1M volume
BUYER
OM
Oded Meltzer
2 deals$40M volume
SELLER

Details

SOLD
IMAGE: Calum Weaver, Perry Synanidis & Garrett Pordes DATE: 07/23/2021 ADDRESS: 1601 NW 13th Street MARKET: Boca Raton ASSET TYPE: Multifamily BUYER: Rental Asset Management - Axel Jordan & German Guzman SELLER: Country Club Village - Oded Meltzer SELLER'S REP: Calum Weaver (@WeaverCalum), Perry Synanidis (@PerrySynanidis) & Garrett Pordes(@GarrettPordes13) - Cushman & Wakefield ASKING PRICE: $20,000,000 SALE PRICE: $20,000,000 UNITS: 84 ~ PPU: $238,095 SF: 77,220 ~ PPSF: $259

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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