Nuveen Real Estate Acquires Multifamily Property On Northwest 85th Way In Sunrise For $43.7M
3551 Northwest 85th Way, Sunrise, Florida 33351, United States
$43,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 1, 2022
AI
Nuveen Real Estate has acquired a multifamily property located at 3551 Northwest 85th Way in Sunrise. The property spans across 15.7 acres and consists of 276 units. The sale, facilitated by Mike Sales from Nuveen Real Estate, was completed on June 2, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,700,000
- Address: 3551 Northwest 85th Way, Sunrise
- Market: Sunrise
- Buyer: Nuveen Real Estate - Mike Sales
- Seller: Nancy Kodsi Tanner
- Units: 276
- Price Per Unit: $158,333
The acquisition by Nuveen Real Estate marks a significant investment in the Sunrise market. The deal was negotiated by Mike Sales, representing Nuveen Real Estate, and Nancy Kodsi Tanner, the property's seller.
Players
Sunrise 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93