Barry Sternlicht's Starwood Capital Group Acquires Multifamily Portfolio In Fellsmere, Sanford, Lake Worth & Lakeland For $91.75M
SOLD
$91,750,000
Florida
See Similar DealsMultiFamily
Sold 09/13/2022
SOLD
Barry Sternlicht's Starwood Capital Group Acquires Multifamily Portfolio In Fellsmere, Sanford, Lake Worth & Lakeland For $91.75M
100 Willner Circle, Sanford, Florida 32771, United States
See Similar DealsMultiFamily
Sold 09/13/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily properties located at 53, 70 Sonrise Place, 100 Willner Circle, 2730 Lantana Road, and 915 Quincy St have been sold in a recent transaction in Fellsmere, Sanford, Lake Worth, and Lakeland. The sale was facilitated by Marcus & Millichap.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $91,750,000
- Units: 668
- Price per Unit (PPU): $137,350
Starwood Capital Group, led by Barry Sternlicht, has acquired the properties from Benjamin Mallah of Equity Management Partners.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,893,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$325,968.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$434,941.81
Annual Debt Service$5,219,301.70
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