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3043 Southwest Port Saint L...

Diego Ojeda Acquires Port Saint Lucie Multifamily Development Site For $8.5M
SOLDMultiFamily

Diego Ojeda Acquires Port Saint Lucie Multifamily Development Site For $8.5M

3043 Southwest Port Saint Lucie Boulevard

$8,500,000

Building Size

Asset Type

MultiFamily

Closing

Jun 27, 2024

AI

The transaction involved a Multifamily Development Site located at 3043 Southwest Port Saint Lucie Boulevard in the Port Saint Lucie market. The property was sold for $8,500,000 from seller Paco Hill of Sympatico Real Estate to buyer Diego Ojeda of the Rilea Group. The sale was facilitated by brokers Omar Morales and Jaret Turkell of Berkadia.

Summary of transaction details:

Diego Ojeda represented the Rilea Group in the transaction, acquiring the Multifamily Development Site. Paco Hill, from Sympatico Real Estate, was the seller in the deal. The brokers involved, Omar Morales and Jaret Turkell of Berkadia, played a crucial role in facilitating the sale of the property.

Players

Jaret Turkell

Berkadia

Broker

$3.2B

vol

49 deals

Broker

Port Saint Lucie MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93