Union Investment Acquires Multifamily Property In Fort Lauderdale For $226.5M
444 Northeast 7th Street, Fort Lauderdale, Florida 33304, United States
$226,500,000
$11,500/SF
Building Size
19,695 SF
Asset Type
MultiFamily
Closing
Dec 21, 2021
AI
Union Investment, represented by Michael Bütter, has acquired a multifamily property located at 444 NE 7th St in Fort Lauderdale. The property, sold by Alta Development, was purchased for a total price of $226,500,000. It consists of 475 units, with an average price per unit of $475,842.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $226,500,000
- Address: 444 NE 7th St
- Market: Fort Lauderdale
Michael Bütter represented Union Investment in the acquisition of the property. This significant transaction demonstrates the continued activity and investment in the Fort Lauderdale real estate market.
Players
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93