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SJA Partners Acquires Palm Bay Multifamily For $19.6M

Property Image
SOLD
$19,600,000
Darron Kattan
Avery Jordan
Mark Savarese
+ 1

Florida

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MultiFamily166,648 SF
Sold 12/06/2021
the dealplayerscompscontact
Property Image
SOLD

SJA Partners Acquires Palm Bay Multifamily For $19.6M

3016 Pinewood Drive Northeast, Palm Bay, FL 32905, USA

See Similar Deals
MultiFamily166,648 SF
Sold 12/06/2021
Darron Kattan
Avery Jordan
Mark Savarese
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$117
Total Square Footage:166,648 SF
Transaction Type:Sale

A multifamily property located at 3016 Pinewood Dr NE in Palm Bay has recently been sold. The property consists of 216 units and was sold for a total price of $19,600,000. This translates to a price per unit of $90,741.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $19,600,000
  • Address: 3016 Pinewood Dr NE, Palm Bay
  • Market: Palm Bay

The buyer of the property is SJA Partners, while the seller is Wells Boys & Girls Property Management. The deal was facilitated by brokers Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese from Franklin Street.

Players

Darron Kattan
Franklin Street
Darron Kattan
15 deals$376M volume
BROKER
Zachary (Zach) Ames
Franklin Street
Zachary Ames
10 deals$316.1M volume
BROKER
Avery Jordan
Franklin Street
Avery Jordan
11 deals$283.7M volume
BROKER
Mark Savarese
Franklin Street
Mark Savarese
8 deals$251M volume
BROKER

Details

SOLD
IMAGE: Avery Jordan, Mark Savarese, Zach Ames & Darron Kattan DATE: 12/06/2021 ADDRESS: 3016 Pinewood Dr NE MARKET: Palm Bay ASSET TYPE: Multifamily BUYER: SJA Partners SELLER: Wells Boys & Girls Property Management BROKERS: Darron Kattan, Zach Ames, Avery Jordan & Mark Savarese - Franklin Street SALE PRICE: $19,600,000 UNITS: 216 ~ PPU: $90,741

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

$1,045,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,634.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,914.00
Annual Debt Service$1,114,967.99