Updated Feb 5, 2025
Mesirow Financial Acquires Multifamily Property In Coconut Creek For $132M
5201 West Hillsboro Boulevard, Coconut Creek, Florida 33073, United States
$132,000,000
Units
396
Asset Type
MultiFamily
Closing
Oct 13, 2022
About this deal
AI
A multifamily property located at 5201-5381 West Hillsboro Boulevard in Coconut Creek has been sold for a total price of $132,000,000. The property spans across 23 acres and consists of 396 units, resulting in a price per unit of $333,333. The transaction took place on October 14, 2022, with Mesirow Financial represented by Natalie Brown as the buyer, and PGIMReal Estate represented by Eric Adler as the seller. The sale was financed by The Guardian Life Insurance Company of America.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $132,000,000
- Address: 5201-5381 West Hillsboro Boulevard, Coconut Creek
- Market: Coconut Creek
- Acres: 23
Natalie Brown of Mesirow Financial and Eric Adler of PGIMReal Estate played crucial roles in the transaction as the buyer's and seller's representatives, respectively.
On the Map
$132,000,000
MultiFamily
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Players
Coconut Creek MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93