Jay Shidler's The Shidler Group Acquires 433-Unit Multifamily In Boynton Beach For $153M
SOLD
$153,000,000
Florida
See Similar DealsMultiFamily844,276 SF
Sold 12/01/2021
SOLD
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
See Similar DealsMultiFamily844,276 SF
Sold 12/01/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$181
Total Square Footage:844,276 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$543,576.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$725,298.06
Annual Debt Service$8,703,576.68
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