Bobby T. Castro Of Ventura Pointe Owner LLC Acquires Multifamily Asset In Pembroke Pines For $52.5M

The multifamily asset located at 7850 Pasadena Boulevard in Pembroke Pines comprises 206 units across 256,480 square feet, situated on a 9.85-acre lot. The property was sold for $52,500,000, equating to a price per unit of $254,854 and a price per square foot of $205.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $52,500,000
• Buyer: Bobby T. Castro - Ventura Pointe Owner LLC
• Seller: Christopher Finlay - Lloyd Jones
• Lender: MetLife Real Estate Lending
• Units: 206
• Square Footage: 256,480
• Price Per Unit: $254,854
• Price Per Square Foot: $205

The sale features buyer Ventura Pointe Owner LLC assuming a $38.6 million loan from MetLife Real Estate Lending. This transaction reflects a decline from the 2019 sale price owing to lower rent growth and increased operating expenses, alongside the various amenities offered at the complex, including a gym, pool, clubhouse, and pet park.