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Olen Properties Acquires Multifamily Property In Palm Beach Gardens For $80M

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SOLD
$80,000,000

Florida

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MultiFamily67,203 SF
Sold 12/14/2020
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Property Image
SOLD

Olen Properties Acquires Multifamily Property In Palm Beach Gardens For $80M

4045 Central Gardens Way, Palm Beach Gardens, FL, USA

See Similar Deals
MultiFamily67,203 SF
Sold 12/14/2020
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,190
Total Square Footage:67,203 SF
Transaction Type:Sale

Located in Palm Beach Gardens, the multifamily property at 4045 Central Gardens Way has been sold for $80,000,000. The transaction took place on December 14, 2020. The property comprises 224 units, resulting in a price per unit of $357,143. The buyer of the property is Olen Properties, represented by Igor Olenicoff. On the other hand, the seller is Northwestern Mutual, represented by John Schlifske. The deal was facilitated by brokers Still Hunter, Greg Engler, and Kaya Suarez from Walker & Dunlop.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $80,000,000
  • Address: 4045 Central Gardens Way, Palm Beach Gardens
  • Market: Palm Beach Gardens
  • Buyer: Olen Properties - Igor Olenicoff
  • Seller: Northwestern Mutual - John Schlifske
  • Brokers: Still Hunter, Greg Engler, & Kaya Suarez - Walker & Dunlop
  • Units: 224
  • Price Per Unit: $357,143

Igor Olenicoff is the representative of Olen Properties in this transaction, while John Schlifske represents Northwestern Mutual. The involvement of Still Hunter, Greg Engler, and Kaya Suarez from Walker & Dunlop as brokers facilitated the successful completion of the deal.

Players

Still Hunter
12 deals$1.6B volume
BROKER

Kaya Robert Suarez
Walker & Dunlop
9 deals$1.1B volume
BROKER

Details

SOLD
IMAGE: Igor Olenicoff & John Schlifske⁠DATE: 12/14/2020⁠ADDRESS: 4045 Central Gardens Way⁠MARKET: Palm Beach Gardens⁠ASSET TYPE: Multifamily⁠⁠BUYER: Olen Properties - Igor Olenicoff⁠SELLER: Northwestern Mutual - John Schlifske⁠BROKERS: Still Hunter, Greg Engler, & Kaya Suarez - Walker & Dunlop⁠⁠PRICE: $80,000,000⁠UNITS: 224 ~ PPU: $357,143

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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