Bell Partners Acquires Multifamily In Boca Raton For $94.3M
SOLD
$94,250,000
Florida
See Similar DealsMultiFamily
Sold 11/02/2020
SOLD
Bell Partners Acquires Multifamily In Boca Raton For $94.3M
5500 Broken Sound Boulevard, Boca Raton, FL, USA
See Similar DealsMultiFamily
Sold 11/02/2020
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
5500 Broken Sound Boulevard and 950 Northwest Broken Sound Parkway in Boca Raton have been sold for a total price of $94,250,000. The asset type of the property is multifamily, and it consists of 270 units. The price per unit (PPU) is $349,074. The transaction took place on 11/02/2020 in the Boca Raton market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $94,250,000
- Units: 270
- Price Per Unit (PPU): $349,074
The buyer in this transaction is Jon Bell from Bell Partners, while the seller consists of Mainstreet Capital Partners, represented by Paul Kilgallon, and Bluerock Residential Growth REIT, represented by Ramin Kamfar.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$334,850.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$446,793.08
Annual Debt Service$5,361,517.01
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