Updated Sep 30, 2025
RREEF Management Acquires 538-Unit Multifamily In West Palm Beach For $157.5M
3130 North Jog Road, West Palm Beach, FL, USA
$157,500,000
Units
538
Asset Type
MultiFamily
Closing
Aug 9, 2020
About this deal
AI
The multifamily property located at 3130 North Jog Road in West Palm Beach and 2141 Vinings Circle in Wellington has been sold for a total price of $157,500,000. The transaction took place on August 9, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $157,500,000
- Units: 538
- Price per Unit (PPU): $292,751
- Acres: 29
- Price per Acre (PPA): $5,431,034
The buyer of the property is RREEF Management, while the seller is Brookfield Asset Management represented by Brian Kingston and Bruce Flatt.
Players
West Palm Beach 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93