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Jeffrey L. Goldberg Of The Milestone Group Acquires Casa Brera Multifamily In Lake Worth For $46.35M

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SOLD
$46,350,000

Florida

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MultiFamily
Sold 08/22/2025
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Property Image
SOLD

Jeffrey L. Goldberg Of The Milestone Group Acquires Casa Brera Multifamily In Lake Worth For $46.35M

4725 Via Bari

See Similar Deals
MultiFamily
Sold 08/22/2025
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in the transaction is a multifamily complex situated on 12.2 acres at 4725 Via Bari, Lake Worth. The apartment complex, known as Casa Brera at Toscana Isles, consists of 206 units, and was sold for $46,350,000, resulting in a price per unit of $225,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $46,350,000
  • Buyer: Jeffrey L. Goldberg - The Milestone Group
  • Seller: Joseph Raia - Raia Capital Management
  • Lender: Wells Fargo & Fannie Mae
  • Units: 206
  • PPU: $225,000
  • Loan Amount: $27.4M Fannie Mae loan at 3.93%
  • Loan Maturity: 2030
  • Additional Financing: $7.69M in new Wells Fargo debt

The key stakeholders in this transaction include Jeffrey L. Goldberg, representing The Milestone Group, who acquired the property, and Joseph Raia, representing Raia Capital Management, who sold the asset. The financing structure integrated assumptions of existing loans along with new debt issued by Wells Fargo.

Players

BUYER



Details

SOLD
IMAGE: Jeffrey L. Goldberg & Joseph Raia DATE: 08/22/2025 ADDRESS: 4725 Via Bari MARKET: Lake Worth ASSET TYPE: Multifamily ~ ACRES: 12.2 BUYER: Jeffrey L. Goldberg - The Milestone Group SELLER: Joseph Raia - Raia Capital Management LENDER: Wells Fargo (@WellsFargo) & Fannie Mae (@OfficialFannieMae) SALE PRICE: $46,350,000 UNITS: 206 ~ PPU: $225,000 NOTE: Milestone Group bought Casa Brera at Toscana Isles, a 206-unit apartment complex in Lake Worth Beach, for $46.35M from Raia Capital Management. The deal included assuming a $27.4M Fannie Mae loan at 3.93% maturing in 2030 and adding $7.69M in new Wells Fargo debt.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,472,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$164,671.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$219,722.65
Annual Debt Service$2,636,671.76