JSB Capital Group Acquires Multifamily Property In Fort Lauderdale For $150M
SOLD
$150,000,000
Florida
See Similar DealsMultiFamily94,311 SF
Sold 06/03/2022
SOLD
JSB Capital Group Acquires Multifamily Property In Fort Lauderdale For $150M
3700 Pacific Point Pl, Lauderdale Lakes, Florida 33309, United States
See Similar DealsMultiFamily94,311 SF
Sold 06/03/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,590
Total Square Footage:94,311 SF
Transaction Type:Sale
A multifamily property located at 3700 Pacific Point Pl in Fort Lauderdale has been sold for $150,000,000. The property consists of 420 units with an average price per unit of $357,143. It spans across 94,311 square feet, resulting in a price per square foot of $1,590.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $150,000,000
- Address: 3700 Pacific Point Pl
- Market: Fort Lauderdale
The buyer in this transaction was JSB Capital Group. Meyer Futersak from Cedarwood represented the buyer as their broker in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32
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