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5500 North Haverhill Road, ...

Updated Dec 4, 2024

Starwood Capital Group Acquires Multifamily Property In West Palm Beach For $13.8M
SOLDMultiFamily

Starwood Capital Group Acquires Multifamily Property In West Palm Beach For $13.8M

5500 North Haverhill Road, West Palm Beach, FL, USA

$13,800,000

$99/SF

Building Size

138,698 SF

Asset Type

MultiFamily

Closing

Mar 1, 2020

About this deal

AI

Barry Sternlicht has recently closed on a multifamily property transaction in West Palm Beach. The property, located at 5500 North Haverhill Road, was sold by LCA Las Palmas LP (Lakeside Capital Advisors) to SREIT Royal Poinciana, with Starwood Capital Group's Barry Sternlicht representing the buyer's interests.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Date: 03/02/2020
  • Address: 5500 North Haverhill Road
  • Market: West Palm Beach
  • Buyer: SREIT Royal Poinciana (Starwood Capital Group - Barry Sternlicht)
  • Seller: LCA Las Palmas LP (Lakeside Capital Advisors)
  • Sale Price: $13,800,000
  • Number of Units: 144
  • Price per Unit: $96,000

This transaction demonstrates Barry Sternlicht's involvement in the West Palm Beach multifamily market. The successful deal emphasizes his strong representation of SREIT Royal Poinciana, who acquired the property from LCA Las Palmas LP. This transaction further solidifies Sternlicht's reputation as a reputable broker in the area.

On the Map

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$13,800,000

$99/SF

MultiFamily

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Players

Starwood Capital Group
Starwood Capital GroupBuyer
Lakeside Capital Advisors
Lakeside Capital AdvisorsSeller
Starwood Capital Group
Starwood Capital GroupLender
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West Palm Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $99 per square foot on a published $13.8M for 138,698 square feet (2020).

Browse Florida multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.15%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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