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Lincoln Property Company Acquires Multifamily Property In Boca Raton For $194M

Property Image
SOLD
$194,000,000
Zachary (Zack) Sackley
Robert Given
Tim Byrne

Florida

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MultiFamily
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SOLD

Lincoln Property Company Acquires Multifamily Property In Boca Raton For $194M

5400 Broken Sound Boulevard Northwest, Boca Raton, Florida 33487, United States

See Similar Deals
MultiFamily
Sold
Zachary (Zack) Sackley
Robert Given
Tim Byrne
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 5400 Broken Sound Boulevard in Boca Raton has been sold for a total of $194,000,000. The property spans across approximately 11.5 acres and consists of 297 units, with each unit having an average price of $653,199.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $194,000,000
  • Address: 5400 Broken Sound Boulevard, Boca Raton
  • Market: Boca Raton
  • Units: 297
  • Price Per Unit: $653,199

Lincoln Property Company, represented by Tim Byrne, has acquired the property from Related Group, represented by Jon Paul Pérez, Jorge Pérez, and Rockpoint, represented by Bill Walton and Keith Gelb. The transaction was facilitated by brokers Robert Given and Zachary Sackley from Cushman & Wakefield.

Players

Robert Given
CBRE
Robert Given
43 deals$4.1B volume(561) 213-5297
BROKER
Zachary (Zack) Sackley
Cushman & Wakefield
Zachary Sackley
7 deals$732.9M volume
BROKER
Tim Byrne
Lincoln Property Company
Tim Byrne
4 deals$499.7M volume
BUYER

Details

SOLD
IMAGE: Robert Given, Keith Gelb, Jon Paul Pérez, Tim Byrne, Jorge Pérez, Bill Walton & Zachary Sackley DATE: 09/09/2022 ADDRESS: 5400 Broken Sound Boulevard MARKET: Boca Raton ASSET TYPE: Multifamily ~ ACRES: 11.5 BUYER: Lincoln Property Company (@LincolnPropCo) - Tim Byrne SELLER: Related Group (@Related_Group) - Jon Paul Pérez & Jorge Pérez; Rockpoint - Bill Walton & Keith Gelb BROKERS: Robert Given & Zachary Sackley - Cushman & Wakefield (@CushWake) SALE PRICE: $194,000,000 UNITS: 297 ~ PPU: $653,199

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

$10,346,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$689,241.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$919,658.97
Annual Debt Service$11,035,907.69