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S2 Capital Acquires Multifamily Asset In Jupiter For $127M

Property Image
SOLD
$127,000,000
Roberto Pesant
Omar Morales
+ 1

Florida

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MultiFamily
Sold 03/31/2022
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Property Image
SOLD

S2 Capital Acquires Multifamily Asset In Jupiter For $127M

6705 Mallards Cove, Jupiter, Florida 33458, United States

See Similar Deals
MultiFamily
Sold 03/31/2022
Roberto Pesant
Omar Morales
+ 1
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Located at 6705 Mallard Cove Rd in Jupiter, this multifamily property was recently sold in a transaction that involved S2 Capital as the buyer and Northland Investment as the seller. The deal was facilitated by brokers Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota from Berkadia. The sale price for this property was $127,000,000 and it consists of 359 units, resulting in a price per unit of $353,760. The property sits on 30 acres, with a price per acre of $4,233,333.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $127,000,000
  • Units: 359
  • Price per Unit: $353,760
  • Acres: 30
  • Price per Acre: $4,233,333

Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota from Berkadia played a crucial role in the sale of this multifamily property. Their expertise and negotiation skills helped facilitate the transaction between S2 Capital and Northland Investment. This deal showcases the strength and success of all the parties involved in the sale of 6705 Mallard Cove Rd in Jupiter.

Players

Jaret Turkell
49 deals$3.2B volume
BROKER

Roberto Pesant
Berkadia
32 deals$2.3B volume
BROKER

Omar Morales
Berkadia
40 deals$2.7B volume
BROKER

Jose Mota
Cushman & Wakefield
22 deals$1.2B volume(786) 886-9804
BROKER

S2 Capital
BUYER

Northland
SELLER

Details

SOLD
IMAGE: Jaret Turkell, Roberto Pesant, Omar Morales & Jose Mota DATE: 03/31/2022 ADDRESS: 6705 Mallard Cove Rd MARKET: Jupiter ASSET TYPE: Multifamily BUYER: S2 Capital SELLER: Northland Investment BROKERS: Jaret Turkell (@Deal_Crush), Roberto Pesant, Omar Morales (@OmarMora1es) & Jose Mota (@JoseRMota) - Berkadia SALE PRICE: $127,000,000 UNITS: 359 ~ PPU: $353,760 ACRES: 30 ~ PPA: 4,233,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$451,204.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$602,044.79
Annual Debt Service$7,224,537.51