Rose Water Capital Purchases Multifamily Asset On Wallis Road And Stacy Road For $10.875M

The transaction involved a multifamily asset located at 5201 Wallis Road and 5280 Stacy Road in West Palm Beach. The sale closed for $10,875,000, covering a total of 52,831 square feet with 46 units. This results in a price per unit of $236,413 and a price per square foot of $205.85.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,875,000
• Units: 46
• Square Footage: 52,831
• Price per Unit: $236,413
• Price per Square Foot: $205.85
• Buyer: Rose Water Capital - Brett Rosenthal, Austin Rosenthal & Clancy Waugh
• Seller: Joel Perez
• Brokerage Firm: Marcus & Millichap
• Broker Representatives: Evan Richardson, Daniel J. Cunningham, River Rhoads, Dillon Majeski & Cory Sanchez
• Date of Transaction: 08/21/2025

Evan Richardson, Senior Director of Investments, noted the value of long-term relationships in the industry. His team previously advised the seller, Joel Perez, during the original acquisition of the asset back in 2019, demonstrating their engagement throughout the asset’s investment cycle.