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
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