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Jordan E. Slone Of Harbor Group International Acquires Multifamily Asset In Plantation For $69.2M

Property Image
SOLD
$69,200,000

Florida

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MultiFamily
Sold 02/20/2026
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Property Image
SOLD

Jordan E. Slone Of Harbor Group International Acquires Multifamily Asset In Plantation For $69.2M

7616 Northwest 5th Street

See Similar Deals
MultiFamily
Sold 02/20/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involves the sale of a multifamily asset located at 7616 Northwest 5th Street in Plantation. The property spans 20.6 acres and includes 372 units, comprising one- and two-bedroom apartments. The total sale price was $69.2 million, resulting in a price per unit of $186,022. The property features amenities such as pools, fitness, and recreation facilities.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $69,200,000
  • Buyer: Jordan E. Slone - Harbor Group International
  • Seller: Wes Powell - AIMCO
  • Units: 372
  • Assumed Loan Amount: $60.13 million
  • Loan Type: Fannie Mae
  • Loan Rate: 4.62% fixed
  • Asset Size: 20.6 acres

Jordan E. Slone represented Harbor Group International in this acquisition from Wes Powell representing AIMCO. The deal highlights a strategic expansion for Harbor Group International into the multifamily market in Plantation.

Players

Harbor Group International
Harbor Group International
BUYER
Wes Powell
Wes Powell
7 deals$963.2M volume
SELLER

Details

SOLD
IMAGE: Jordan E. Slone & Wes Powell DATE: 02/20/2026 ADDRESS: 7616 Northwest 5th Street MARKET: Plantation ASSET TYPE: Multifamily ~ ACRES: 20.6 BUYER: Jordan E. Slone - Harbor Group International SELLER: Wes Powell - AIMCO SALE PRICE: $69,200,000 UNITS: 372 ~ PPU: $186,022 NOTE: Harbor Group International acquired the 372-unit Plantation Gardens Apartments at 7616 NW 5th St. in Plantation from Aimco for $69.2 million, or $186,022 per unit.The buyer assumed a $60.13 million Fannie Mae loan at 4.62% fixed, with the property spanning 20.6 acres and featuring one- and two-bedroom units, pools, fitness and recreation amenities.

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

$3,690,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$245,852.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$328,043.30
Annual Debt Service$3,936,519.65