Cottonwood Residential Acquires Multifamily Asset In Pompano Beach For $95.5M
SOLD
$95,500,000
Florida
See Similar DealsMultiFamily285,335 SF
Sold 06/24/2022
SOLD
Cottonwood Residential Acquires Multifamily Asset In Pompano Beach For $95.5M
4411 N Federal Hwy, Pompano Beach, Florida 33064, United States
See Similar DealsMultiFamily285,335 SF
Sold 06/24/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$334
Total Square Footage:285,335 SF
Transaction Type:Sale
The multifamily property located at 4411 N Federal Highway in Pompano Beach has been sold for a total of $95,500,000. The property consists of 243 units, with an average price per unit of $393,004.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $95,500,000
- Address: 4411 N Federal Highway
- Market: Pompano Beach
- Buyer: Cottonwood Residential - Daniel Shaeffer
- Seller: Harbor Group International - Jordan E. Slone
- Lender: berkadia''>Berkadia Commercial Mortgage
Daniel Shaeffer of Cottonwood Residential represented the buyer in this transaction, while Jordan E. Slone represented Harbor Group International. The lender involved in the deal was Berkadia Commercial Mortgage.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,093,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$339,291.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$452,718.72
Annual Debt Service$5,432,624.66
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