Nick Sinatra Of Sinatra & Co. Acquires Cocoa Grand Apartments In Cocoa For $64.3M

The multifamily asset involved in this transaction is Cocoa Grand Apartments located at 305 Laredo Drive in Cocoa, Florida. The sale price for the property was $64,300,000. This acquisition marks Sinatra & Co.'s first multifamily asset in the Cocoa market and the fifth in the state of Florida, reflecting the company’s investment strategy focused on high-growth markets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,300,000
• Buyer: Nick Sinatra - Sinatra & Co.
• Brokers: Cole Whitaker, David Etchison & Mary Beale - Berkadia
• Lender: SCRE FL Value Add Fund, Stolar Capital, The Nanula Family Office & Citi Bank
• Mortgage Broker: Bob Falese - Berkadia

The transaction involved coordination from various parties, including the property management that will be based in Tampa headquarters. The collaboration of the brokerage team played a significant role in facilitating the acquisition process for Sinatra & Co.