Carroll Organization Acquires Margate Multifamily For $66.5M With Lynd Living And North Point Capital Group As Sellers
SOLD
$66,500,000
Florida
See Similar DealsMultiFamily234,320 SF
Sold 11/19/2021
SOLD
Carroll Organization Acquires Margate Multifamily For $66.5M With Lynd Living And North Point Capital Group As Sellers
5750 Lakeside Drive
See Similar DealsMultiFamily234,320 SF
Sold 11/19/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$283
Total Square Footage:234,320 SF
Transaction Type:Sale
David Lynd, David P. Zar, Shawn Hakimian, and Patrick Carroll were involved in the sale of a multifamily property located at 5750 Lakeside Dr in Margate, FL. The transaction took place on November 19, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,500,000
- Address: 5750 Lakeside Dr, Margate, FL
- Market: Margate, FL
- Buyer: Carroll Organization - Patrick Carroll
- Seller: Lynd Living - David Lynd, North Point Capital Group - David P. Zar & Shawn Hakimian
- Units: 280
- Price Per Unit: $237,500
- Square Footage: 234,320
- Price Per Square Foot: $284
The Lynd Company and North Point Capital Group had purchased this property 8 months ago for $50,750,000. This transaction marks a significant increase in the sale price, reflecting the potential value and growth opportunities associated with the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$236,260.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$315,243.93
Annual Debt Service$3,782,927.12
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