W. Patrick McDowell Of Mcdowell Properties Acquires Nova Central Apartments For $33.6M From Steven R. Robbins

The property involved in this transaction is a multifamily asset located at 6757 College Court Manor in Davie, Florida. It encompasses 140 units and spans a total square footage of 145,234. The property was sold for $33,600,000, which translates to a price per unit of $240,000 and a price per square foot of $231.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $33,600,000
• Units: 140
• Square Footage: 145,234
• Price Per Unit: $240,000
• Price Per Square Foot: $231
• Buyer: W. Patrick McDowell - Mcdowell Properties
• Seller: Steven R. Robbins - Robbins Property Associates
• Brokers: Jaret Turkell, Omar Morales & Yoav Yuhjtman - Berkadia
• Lender: MFI Capital

This transaction highlights W. Patrick McDowell's continued investment strategy, as he plans to implement value-add renovations on the 1996-built Nova Central Apartments. The financing for the acquisition was secured from MFI Capital, indicating a strategic partnership in facilitating the deal.