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Abacus Capital Group Acquires Multifamily Property In Plantation For $125.4M

Property Image
SOLD
$125,400,000

Florida

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MultiFamily1,200 SF
Sold 09/03/2021
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Property Image
SOLD

Abacus Capital Group Acquires Multifamily Property In Plantation For $125.4M

8000 Cleary Boulevard, Plantation, FL, USA

See Similar Deals
MultiFamily1,200 SF
Sold 09/03/2021
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$104,500
Total Square Footage:1,200 SF
Transaction Type:Sale

Abacus Capital Group has acquired a multifamily property located at 8000 Cleary Boulevard in Plantation. The transaction, which took place on September 3, 2021, involved the sale of this 11.7-acre property by Lincoln Property Company.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $125,400,000
  • Address: 8000 Cleary Boulevard
  • Market: Plantation
  • Acres: 11.7
  • Price Per Acre: $10,717,949
  • Buyer: Abacus Capital Group - Ben Friedman
  • Seller: Lincoln Property Company
  • Units: 376
  • Price Per Unit: $333,511

Ben Friedman represented Abacus Capital Group in the transaction as their broker representative. This significant transaction demonstrates Abacus Capital Group's investment strategy in the multifamily sector and their confidence in the Plantation market.

Players

Lincoln Property Company
Lincoln Property Company
BROKERAGE
Ben Friedman
Abacus Capital Group
Ben Friedman
6 deals$458.7M volume
BUYER
Lincoln Property Company
Lincoln Property Company
SELLER

Details

SOLD
IMAGE: Ben Friedman DATE: 09/03/2021 ADDRESS: 8000 Cleary Boulevard MARKET: Plantation ASSET TYPE: Multifamily ~ ACRES: 11.7 ~ PPA: $10,717,949 BUYER: Abacus Capital Group - Ben Friedman SELLER: Lincoln Property Company SALE PRICE: $125,400,000 UNITS: 376 ~ PPU: $333,511

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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