Jay Shidler's The Shidler Group Acquires 433-Unit Multifamily In Boynton Beach For $153M
SeaLofts at Boynton Village, Sea Lofts Drive, Boynton Beach, FL, USA
$153,000,000
$181/SF
Building Size
844,276 SF
Asset Type
MultiFamily
Closing
Dec 1, 2021
AI
The multifamily property located at 600 Sea Lofts Drive in Boynton Beach has been sold for a total of $153,000,000. The property spans across 19.4 acres and consists of 433 units. The sale price per unit comes out to be $353,349.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $153,000,000
- Address: 600 Sea Lofts Drive, Boynton Beach
- Market: Boynton Beach
- Total Acres: 19.4
The buyer in this transaction is Jay Shidler from The Shidler Group, while the seller is Rockpoint Group. Jay Shidler represents The Shidler Group in the deal.
Players
Boynton Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93