Circle Capital Acquires Multifamily Property In Davie For $34.65M With Buyer's Rep Todd Linden & Seller's Rep Richard Giles & Alex Rosemurgy
SOLD
$34,650,000
+ 2
Florida
See Similar DealsMultiFamily127,158 SF
Sold
SOLD
Circle Capital Acquires Multifamily Property In Davie For $34.65M With Buyer's Rep Todd Linden & Seller's Rep Richard Giles & Alex Rosemurgy
4151 Southwest 67th Avenue, Davie, FL, USA
See Similar DealsMultiFamily127,158 SF
Sold
+ 2
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$272
Total Square Footage:127,158 SF
Transaction Type:Sale
The multifamily property located at 4151-4199 SW 67th Avenue in Davie has been sold. The property consists of 178 units, with a sale price of $34,650,000. The price per unit is $194,663, and the total square footage is 127,158 square feet, resulting in a price per square foot of $272. The transaction took place on August 24, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $34,650,000
- Units: 178
- Price per Unit: $194,663
- Square Footage: 127,158 sqft
- Price per Square Foot: $272
The buyer of the property is Circle Capital, represented by Todd Linden. The seller is Bala Scandia, represented by Richard Giles and Alex Rosemurgy. The transaction was facilitated by brokers Calum Weaver, Zach Sackley, Mike Mulkern, and Perry Synanidis from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,848,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$123,104.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$164,258.68
Annual Debt Service$1,971,104.13
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