Pantzer Properties Acquires Multifamily Asset In Palm Beach Gardens For $66.5M
SOLD
$66,500,000
Florida
See Similar DealsMultiFamily
Sold 04/08/2022
SOLD
Pantzer Properties Acquires Multifamily Asset In Palm Beach Gardens For $66.5M
2100 Pga Boulevard
See Similar DealsMultiFamily
Sold 04/08/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Located at 2100 PGA Blvd in Palm Beach Gardens, this multifamily property spans across 3.2 acres. The transaction took place on 04/08/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,500,000
- Address: 2100 PGA Blvd, Palm Beach Gardens
- Market: Palm Beach Gardens
- Asset Type: Multifamily
- Acres: 3.2
Jason Pantzer, representing Pantzer Properties, was the buyer in the transaction, while the seller was Eastwind Development Group & ICP.
The property consists of 136 units, with a per unit price of $488,971.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$236,260.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$315,243.93
Annual Debt Service$3,782,927.12
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