Capital Square Acquires 396-Unit Multifamily Property In Parkland For $155M With Buyer's Rep Louis Rogers & Seller's Rep Jon Bell & Lili Dunn
SOLD
$155,000,000
Florida
See Similar DealsMultiFamily
Sold 12/12/2022
SOLD
Capital Square Acquires 396-Unit Multifamily Property In Parkland For $155M With Buyer's Rep Louis Rogers & Seller's Rep Jon Bell & Lili Dunn
5851 Holmberg Road, Parkland, Florida 33067, United States
See Similar DealsMultiFamily
Sold 12/12/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 5851 Holmberg Road in Parkland was sold in a transaction on December 12, 2022. The property spans across 45 acres and consists of 396 units. The sale price for this transaction was $155,000,000, resulting in a per unit price of $391,414.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $155,000,000
- Address: 5851 Holmberg Road
- Market: Parkland
- Acres: 45
The buyer of this property was Capital Square represented by Louis Rogers and Whitson Huffman. On the other hand, Jon Bell and Lili Dunn represented the seller, Bell Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$550,682.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$734,779.08
Annual Debt Service$8,817,348.93
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