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FundRebel Acquires Under-Construction Nine Hollywood Multifamily Project In Hollywood For $67M

Property Image
SOLD
$67,000,000
Mark Drachman
GI

Florida

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MultiFamily
Sold 06/16/2023
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Property Image
SOLD

FundRebel Acquires Under-Construction Nine Hollywood Multifamily Project In Hollywood For $67M

1809 Jackson St Hollywood, FL 33020, USA

See Similar Deals
MultiFamily
Sold 06/16/2023
Mark Drachman
GI
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

FundRebel, a crowdfunding real estate start-up, is set to acquire the under-construction Nine Hollywood multifamily project in Hollywood. The purchase price for the property is $67 million and the transaction is being funded through a real estate investment trust fund. The development is expected to be completed later this year.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $67,000,000
  • Units: 204
  • Price per Unit: $328,431
  • Address: 1809 Jackson Street
  • Market: Hollywood

The buyer in this transaction is FundRebel, represented by Mark Drachman. The seller is Giuseppe Iadisernia.

Players

Mark Drachman
Mark Drachman
9 deals$235.4M volume
BUYER
GI
Giuseppe Iadisernia
4 deals$209.5M volume
SELLER

Details

SOLD
IMAGE: CONTRACT IMAGE: Mark Drachman DATE: 06/16/2023 ADDRESS: 1809 Jackson Street MARKET: Hollywood ASSET TYPE: Multifamily BUYER: FundRebel - Mark Drachman SELLER: Giuseppe Iadisernia PRICE: $67,000,000 UNITS: 204 ~ PPU: $328,431 NOTE: Crowdfunding real estate start-up FundRebel plans to purchase the under-construction Nine Hollywood multifamily project in Hollywood for $67 million. The acquisition will be funded through a real estate investment trust fund, with the development expected to be completed later this year.

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

$3,573,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$238,036.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$317,614.18
Annual Debt Service$3,811,370.18