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Circle Capital Partners Acquires Multifamily Property In Lauderhill For $22.2M

Property Image
SOLD
$22,220,000

Florida

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MultiFamily
Sold 09/20/2022
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Property Image
SOLD

Circle Capital Partners Acquires Multifamily Property In Lauderhill For $22.2M

5330 Northwest 88th Avenue, Lauderhill, Florida 33351, United States

See Similar Deals
MultiFamily
Sold 09/20/2022
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Circle Capital Partners has acquired a multifamily property located at 5330 & 5350 NW 88th Ave in Lauderhill. The property spans across 9.2 acres and consists of 144 units. The sale was facilitated by Thomas E. Faust Jr., a representative from Eaton Vance Management, and Laurie G. Hylton. The transaction was financed by greystone''>Greystone Servicing Co. with a selling price of $22,220,000, resulting in a per unit price of $154,306.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $22,220,000
  • Address: 5330 & 5350 NW 88th Ave
  • Market: Lauderhill
  • Acres: 9.2

The acquisition of this multifamily property was made by Circle Capital Partners. The deal involved representation from Thomas E. Faust Jr. of Eaton Vance Management and Laurie G. Hylton. They successfully facilitated the sale, with Greystone Servicing Co. providing the necessary financing.

Players

CP
Circle Capital Partners
BUYER
TJ
Thomas E. Faust Jr.
3 deals$197.4M volume
SELLER
EM
Eaton Vance Management
SELLER
Greystone
Greystone
LENDER

Details

SOLD
IMAGE: Thomas E. Faust Jr. DATE: 09/20/2022 ADDRESS: 5330 & 5350 NW 88th Ave MARKET: Lauderhill ASSET TYPE: Multifamily ~ ACRES: 9.2 BUYER: Circle Capital Partners SELLER: Eaton Vance Management - Thomas E. Faust Jr. & Laurie G. Hylton LENDER: Greystone Servicing Co. (@GreystoneCREF) SALE PRICE: $22,220,000 UNITS: 144 ~ PPU: $154,306

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

$1,185,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,942.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$105,334.14
Annual Debt Service$1,264,009.63