Denis Barreto Jr. & Matt Miller Acquire Multifamily Community In Lake Worth For $12.5M

The asset involved in the transaction is a multi-family townhome community located at 3884 Melaleuca Lane in Lake Worth. The sale price was $12,500,000 for the property, which includes 36 units across a total area of 52,830 square feet. The property is situated on 3.58 acres and was built in 2019, with a price per unit of $347,222 and a price per square foot of $237.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $12,500,000
• Buyer: Denis Barreto Jr. & Matt Miller - Corinthian Capital Real Estate Partners
• Seller: MAG Real Estate & Development
• Units: 36
• Square Footage: 52,830
• Acres: 3.58
• PPU: $347,222
• PPSF: $237
• Debt Assumed: $6,680,000
• Interest Rate on Debt: 2.80%
• Zoning: RM

The deal involved Denis Barreto Jr. and Matt Miller representing Corinthian Capital Real Estate Partners, who acquired the property from MAG Real Estate & Development Inc and Aviara Properties. This transaction highlights the collaboration between the buyer and the seller, resulting in the successful transfer of ownership for the townhome community.