facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Multifamily

/

Sale

/

8445 Springtree Drive, Sunr...

Snow Real Estate Acquires Multifamily Property In Sunrise For $15M
SOLDMultiFamily

Snow Real Estate Acquires Multifamily Property In Sunrise For $15M

8445 Springtree Drive, Sunrise, FL, USA

$15,000,000

$106/SF

Building Size

141,240 SF

Asset Type

MultiFamily

Closing

Aug 2, 2020

AI

An multifamily property located at 8445 Springtree Drive in Sunrise has been sold for $15,000,000. The property consists of 72 units and covers an area of 3.2 acres. The sale price per unit comes out to be $208,333, and the price per acre is $4,687,500.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Address: 8445 Springtree Drive, Sunrise
  • Market: Sunrise

The buyer of the property is Snow Real Estate, represented by Adam Snow. The seller is Ortsac Capital Group, owned by Bobby & Sofia Castro. The deal was facilitated by Deme Mekras from the MSP Group.

Players

Deme Mekras

MSP Group

Broker

$270.5M

vol

32 deals

Broker

Adam Snow

Buyer

$17.5M

vol

2 deals

Buyer

Sofia C. Castro

Ortsac Capital Group

Seller

$45.9M

vol

3 deals

Seller
OG
Ortsac Capital GroupSeller

Sunrise MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93