Ivanhoé Cambridge Acquires Pompano Beach Multifamily From Greystar For $73.5M
SOLD
$73,500,000
Florida
See Similar DealsMultiFamily183,161 SF
Sold 11/12/2021
SOLD
Ivanhoé Cambridge Acquires Pompano Beach Multifamily From Greystar For $73.5M
1617 South Federal Highway, Pompano Beach, FL, USA
See Similar DealsMultiFamily183,161 SF
Sold 11/12/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$401
Total Square Footage:183,161 SF
Transaction Type:Sale
An multifamily property located at 1617 S. Federal Highway in Pompano Beach has been sold for a total price of $73,500,000. The property consists of 225 units, with an average price per unit of $326,667.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $73,500,000
- Units: 225
- Price Per Unit: $326,667
Ivanhoé Cambridge has acquired the property from Greystar, with Bob Faith representing the seller. This transaction marks a significant deal in the Pompano Beach market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,919,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$261,129.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$348,427.50
Annual Debt Service$4,181,129.98
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