Nuveen Acquires Multifamily Property In Coconut Creek For $46.5M
SOLD
$46,500,000
Florida
See Similar DealsMultiFamily1,189 SF
Sold 04/22/2021
SOLD
Nuveen Acquires Multifamily Property In Coconut Creek For $46.5M
3621 West Hillsboro Boulevard, Coconut Creek, FL, USA
See Similar DealsMultiFamily1,189 SF
Sold 04/22/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$39,108
Total Square Footage:1,189 SF
Transaction Type:Sale
A multifamily property located at 3621 Hillsboro Boulevard in Coconut Creek has been sold for a price of $46,500,000. The property spans across 4.7 acres and consists of 192 units, resulting in a price per unit of $242,188 and a price per acre of $9,893,617.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $46,500,000
- Address: 3621 Hillsboro Boulevard, Coconut Creek
- Market: Coconut Creek
The buyer of the property is Nuveen, represented by Jose Minaya. The seller is Bar Invest Group, represented by Jacques Barbera.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,479,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$165,204.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$220,433.72
Annual Debt Service$2,645,204.68
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