Bruce Gago Of FCP Acquires 250-Unit Alexan Miramar From Danny Queenan & Ken Valach For $67.5M
3155 SW 147th Ter
$67,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 20, 2024
AI
The multifamily property involved in this transaction is the 250-unit Alexan Miramar apartment complex, located at 3155 Southwest 147th Terrace in the Miramar market. The property was sold for $67.5 million, which equates to approximately $269,840 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $67,500,000
- Units: 250
- PPU: $270,000
- Buyer: Bruce Gago - FCP
- Seller: Danny Queenan & Ken Valach - Trammell Crow Residential
- Brokers: Robert Given & Zachary Sackley - CBRE
- Lender: J.P. Morgan Chase
- Mortgage Brokers: Charles Crapse & Denny St. Romain - CBRE
This transaction involved key individuals, with Bruce Gago representing the buyer, FCP, while the seller, Trammell Crow Residential, was represented by Danny Queenan and Ken Valach. The brokerage team from CBRE included Robert Given and Zachary Sackley, who facilitated the deal. Additionally, the transaction was financed by a mortgage from J.P. Morgan Chase, which included the assumption of a previous loan and the acquisition of additional debt.
Players
Pembroke Pines MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93