Isle Multifamily Partners LLC Acquires Margate Multifamily Property For $60.9M

Isle Multifamily Partners LLC, represented by Govan White of Covenant Capital Group, has acquired a multifamily property located at 5100 W Sample Road in Margate. The seller, Marguard Corp., was represented by Rai Sahi. The transaction was facilitated with the support of Pinnacle Bank as the lender.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $60,900,000
• Address: 5100 W Sample Road, Margate
• Market: Margate
• Buyer: Isle Multifamily Partners LLC - Govan White - Covenant Capital Group
• Seller: Marguard Corp. - Rai Sahi
• Lender: Pinnacle Bank
• Units: 340
• Price Per Unit: $179,118
• Square Footage: 325,343
• Price Per Square Foot: $187

Govan White represented Isle Multifamily Partners LLC in the deal, while Rai Sahi represented Marguard Corp. Pinnacle Bank provided the necessary financing for the transaction. The property is a multifamily asset located at 5100 W Sample Road in Margate, offering 340 units with an average price per unit of $179,118. The total square footage of the property is 325,343, resulting in a price per square foot of $187.