Avalon Toscana LLC Acquires Multifamily Property In Margate For $60.25M
3050 Toscana Lane, Margate, FL, USA
$60,250,000
$218/SF
Building Size
276,412 SF
Asset Type
MultiFamily
Closing
Dec 16, 2019
AI
The multifamily property located at 3050 Toscana Lane West in Margate has been sold. The transaction took place on December 17, 2019. The property, owned by FCI Residential and represented by Juan Porro, was purchased by Avalon Toscana LLC. The deal was facilitated by broker Chris Conklin from Walker & Dunlop.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $60,250,000
- Square Footage: 276,412
- Price per Square Foot: $217
- Number of Units: 240
- Price per Unit: $251,000
- Address: 3050 Toscana Lane West, Margate
The sale of this multifamily property highlights the involvement of key individuals and companies. FCI Residential, led by Juan Porro, acted as the seller. On the buyer's side, Avalon Toscana LLC acquired the property. The deal was facilitated by Chris Conklin from the brokerage firm Walker & Dunlop.
Players
Margate 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93