Updated Jun 9, 2025
Denis Barreto Jr. & Matt Miller Acquire Multifamily Community In Lake Worth For $12.5M
3884 Melaleuca Lane
$12,500,000
$236/SF
Building Size
52,830 SF
Asset Type
MultiFamily
Closing
Jun 4, 2025
About this deal
AI
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.
On the Map
$12,500,000
$236/SF
MultiFamily
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Lake Worth MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93