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3333 Port Royale Drive Sout...

NM-Port Royale LLC Acquires 555-Unit Multifamily Property In Fort Lauderdale For $180M
SOLDMultiFamily

NM-Port Royale LLC Acquires 555-Unit Multifamily Property In Fort Lauderdale For $180M

3333 Port Royale Drive South, Fort Lauderdale, FL, USA

$180,000,000

$324,324/SF

Building Size

555 SF

Asset Type

MultiFamily

Closing

Nov 29, 2020

AI

Located at 3333 South Port Royale Drive S. in Fort Lauderdale, this multifamily property was recently sold in a transaction dated November 30, 2020. The sale was facilitated by NM-Port Royale LLC, with Northwestern Mutual's John Schlifske representing the buyer's side. The seller's representatives were William MacDonald from Mill Creek Residential and Martin Flanagan from Invesco. The property consists of 555 units, and the sale price amounted to $180,000,000, resulting in a per unit price of $324,324.

Summary of transaction details:

John Schlifske, representing Northwestern Mutual, played a key role as the buyer's representative in this transaction. On the seller's side, William MacDonald from Mill Creek Residential and Martin Flanagan from Invesco were instrumental in facilitating the sale. This significant transaction underscores the attractiveness and value of the Fort Lauderdale market for multifamily properties.

Players

William MacDonald

Broker

$340M

vol

4 deals

Broker
Northwestern Mutual
Northwestern Mutual Buyer
Northwestern Mutual
Northwestern Mutual Lender

Fort Lauderdale 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

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93