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311 Northwest 42nd Court
SOLD

Category Five Real Estate Acquires 156-Unit Multifamily In Pompano Beach For $24.6M

311 Northwest 42nd Court

MultiFamily
150,000 SF
clock iconSold 161 days ago
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Summary

Sale
FLORIDA
MultiFamily
150,000 sqft

The multi-family property located at 311 Northwest 42nd Court in Pompano Beach has been sold in a closed transaction. The property consists of 156 units with a total square footage of 150,000. The sale price for this transaction was $24,600,000, equating to a per unit price of $157,692 and a price per square foot of $164.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $24,600,000
  • Units: 156
  • Price per Unit: $157,692
  • Total Square Footage: 150,000
  • Price per Square Foot: $164
  • Address: 311 Northwest 42nd Court, Pompano Beach
  • Market: Pompano Beach

The buyer of this property is Category Five Real Estate, represented by Leon Peisach and Mike Peisach. Category Five Real Estate is a private equity firm based in South Florida, specializing in sourcing, acquiring, operating, and improving multifamily assets throughout the state. Yoav Yuhtman of Berkadia served as the broker for this transaction.

Category Five Real Estate is known for achieving superior returns through renovations that enhance tenant living experiences and benefit the surrounding communities. Their local presence, agility, and strong balance sheet provide a competitive advantage in closing deals, even in a challenging debt market. The acquisition of the San Marco property in Pompano Beach aligns with their investment strategy, and they are actively seeking additional opportunities in 2024.

Players

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    2

  • Agents

    1

  • Agencies

    1

Yoav Yuhtman's profile picture
Yoav Yuhtman
Berkadia-image
Director
$63.9M Sold

Details

Deal Summary
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SOLD
IMAGE: Leon Peisach & Mike Peisach DATE: 12/21/2023 ADDRESS: 311 Northwest 42nd Court MARKET: Pompano Beach ASSET TYPE: MultiFamily BUYER: Category Five Real Estate - Leon Peisach (@LeonPeisach) & Mike Peisach (@MikePeisach) BROKERS: Yoav Yuhtman (@Yoav_YY) - Berkadia (@Berkadia) SALE PRICE: $24,600,000 UNITS: 156 ~ PPU: $157,692 SF: 150,000 ~ PPSF: $164 NOTE FROM BUYER: Category Five Real Estate ("CFRE") is a private equity firm based in South Florida focused on sourcing, acquiring, operating, and improving multifamily assets all over Florida. CFRE achieves superior returns through renovations that enhance tenant living experiences and the surrounding communities. San Marco is a strategic acquisition with a favorable unit mix in the heart of South Florida's tri-county region. The firm's local presence, agility, and strong balance sheet provide a competitive advantage in closing deals amidst a challenging debt market while giving sellers certainty of execution. CFRE is actively searching for additional opportunities in 2024.

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Address311 Northwest 42nd Court

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