Westover Companies Acquires 240-Unit Multifamily In Dania Beach For $78.7M
SOLD
$78,700,000
Florida
See Similar DealsMultiFamily51,101 SF
Sold 12/29/2021
SOLD
Westover Companies Acquires 240-Unit Multifamily In Dania Beach For $78.7M
311 East Sheridan Street, Dania Beach, Florida 33004, United States
See Similar DealsMultiFamily51,101 SF
Sold 12/29/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,540
Total Square Footage:51,101 SF
Transaction Type:Sale
Located at 311 East Sheridan Street in Dania Beach, this multifamily property has been sold in a recent transaction. The sale was completed on December 29, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $78,700,000
- Units: 240
- Price Per Unit: $327,917
The buyer of this property is Westover Companies, represented by Guntram Weissenberger. They acquired the property from Beach Walk at Sheridan LP. This transaction marks a significant investment for Westover Companies in the Dania Beach market.
Congratulations to all parties involved in this successful multifamily property sale!
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,197,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$279,604.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$373,078.15
Annual Debt Service$4,476,937.81
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