Spira Equity Partners And Foundation For Affordable Housing Acquire Multifamily Complex In Weston For $50.5M

A 300-unit multifamily asset located at 201 Racquet Club Road in Weston has been acquired for $50,500,000. The property spans 19.9 acres and is positioned within the Weston market, with a price per unit of $168,333.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,500,000
• Units: 300
• Price per Unit: $168,333
• Buyer: Robert Lee & Stephen Ho - Spira Equity Partners; Foundation for Affordable Housing
• Seller: Roizman Development; Jon Paul Pérez - Related Group; Jeff T. Blau - Related Cos
• Lender: Newmark & Spira Bon

The transaction involved a venture led by Spira Equity Partners and the Foundation for Affordable Housing purchasing the Falls of Bonaventure affordable housing complex. The buyers secured a total of $53.06M in tax-exempt debt to facilitate the acquisition, which includes a senior loan from Newmark and a subordinate loan from Spira Bon.