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

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SOLD
$12,500,000

Florida

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MultiFamily52,830 SF
Sold 06/04/2025
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Property Image
SOLD

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

3884 Melaleuca Lane

See Similar Deals
MultiFamily52,830 SF
Sold 06/04/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$236
Total Square Footage:52,830 SF
Transaction Type:Sale

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.

Players

DJ
Denis Barreto Jr
3 deals$59.3M volume
BUYER

Details

SOLD
IMAGE: Denis Barreto Jr. & Matt Miller DATE: 06/04/2025 ADDRESS: 3884 Melaleuca Lane MARKET: Lake Worth ASSET TYPE: MultiFamily ~ ACRES: 3.58 BUYER: Denis Barreto Jr. & Matt Miller - Corinthian Capital Real Estate Partners SELLER: MAG Real Estate & Development SALE PRICE: $12,500,000 UNITS: 36 ~ PPU: $347,222 SF: 52,830 ~ PPSF: $237 NOTE: Corinthian Capital Real Estate Partners acquired a 36-unit, 52,830 SF townhome community at 3884 Melaleuca Ln in Lake Worth for $12.5M from MAG Real Estate & Development Inc and Aviara Properties.The deal included assumption of $6.68M in debt at 2.80% interest; the 2019-built asset sits on 3.58 acres and is zoned RM.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
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