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Meridian at Lantana, 3061 D...

Updated Oct 29, 2024

Pacifica Companies Acquires Lantana Multifamily For $12.35M
SOLDMultiFamily

Pacifica Companies Acquires Lantana Multifamily For $12.35M

Meridian at Lantana, 3061 Donnelly Drive, Lantana, FL, USA

$12,350,000

$77/SF

Building Size

160,381 SF

Asset Type

MultiFamily

Closing

Apr 21, 2020

About this deal

AI

Pacifica Companies has acquired a multifamily property located at 3061 Donnelly Drive in Lantana. The transaction, which took place on April 22, 2020, involved the purchase of a 172-unit apartment complex. The property was sold by Healthpeak Properties, with Thomas M. Herzog representing the seller. The purchase price for the asset was $12,350,000, resulting in a per unit price of $71,802.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,350,000
  • Address: 3061 Donnelly Drive, Lantana
  • Market: Lantana
  • Units: 172
  • Price per Unit: $71,802
  • Buyer: Pacifica Companies
  • Seller: Healthpeak Properties - Thomas M. Herzog

Pacifica Companies, led by its representative, completed the acquisition of the apartment complex from Healthpeak Properties. Thomas M. Herzog represented the seller in the transaction. The deal allows Pacifica Companies to expand its multifamily portfolio and strengthen its presence in the Lantana market.

On the Map

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$12,350,000

$77/SF

MultiFamily

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Players

PC
Pacific CompaniesBuyer
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Lake Worth MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $77 per square foot on a published $12.4M for 160,381 square feet (2020).

Browse Lake Worth multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.28%

Cash-on-Cash

-0.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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