Prospect Real Estate Group And Midtown Capital Partners Acquire MultiFamily Property In Lauderhill, Florida For $8M

The property in question is located at 8456-8458 West Commercial Boulevard in Lauderhill, Florida. It is a multi-family asset with a total of 275 units. The sale price for this property was $8,000,000, resulting in a per unit price of approximately $29,091. Additionally, the property spans across 278,784 square feet, with a price per square foot of $29.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $8,000,000
• Units: 275
• Price per Unit: $29,091
• Square Footage: 278,784
• Price per Square Foot: $29

The buyer in this transaction is Prospect Real Estate Group represented by Richard G. Zahn, Sr and Michele Zahn, along with Midtown Capital Partners represented by Alexander Saieh and Alejandro Velez. On the other hand, the seller is Parabens Group represented by Luciano Miguel Gesuiti and Diego Besga. The buyer's representative in this deal is Moushumi Ganguli from CityLights RE.

According to the buyer's representative, the property known as Commercial Commons will consist of 155 one-bedroom apartments, including five with a den, 90 two-bedroom apartments, including 20 with a den, 10 three-bedroom apartments, and 10 studios. Prospect and Midtown Capital have been actively involved in various projects in Florida, such as Palm Bay, the Flagler Village area, and Lake Worth Beach.