facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Multifamily

/

Sale

/

5401 Wiles Road

Benjamin Schall Of AvalonBay Communities Acquires Solaire At Coconut Creek For $98.28M
SOLDMultiFamily

Benjamin Schall Of AvalonBay Communities Acquires Solaire At Coconut Creek For $98.28M

5401 Wiles Road

$98,280,000

$310/SF

Building Size

316,222 SF

Asset Type

MultiFamily

Closing

Aug 15, 2025

AI

The asset involved in this closed transaction is a multifamily complex located at 5401-5409 Wiles Road in Coconut Creek. The property, known as Avalon Coconut Creek, consists of 270 units with a total square footage of 316,222. The sale price for the asset was $98,280,000, reflecting a per unit price of $364,000 and a price per square foot of $311. The complex was built in 2013 and was previously sold for $69 million in 2022.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $98,280,000
  • Units: 270
  • Price Per Unit: $364,000
  • Square Footage: 316,222
  • Price Per Square Foot: $311
  • Buyer: Benjamin Schall - AvalonBay Communities
  • Seller: Richard Schechter - Bainbridge Cos; Rockwood Capital
  • Date of Sale: 08/15/2025

Benjamin Schall from AvalonBay Communities acted as the buyer in this transaction. The sellers included Richard Schechter from Bainbridge Cos and Rockwood Capital, indicating a partnership in the ownership of the property prior to the sale. The complex was renamed as part of the rebranding following the acquisition.

Players

Benjamin Schall

AvalonBay Communities

Buyer

$498.3M

vol

3 deals

Buyer
BC
Bainbridge CompaniesSeller

Coconut Creek MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93