facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Multifamily

/

Sale

/

Sale · MultiFamily

The CaraCo Group Of Companies Acquires Eden West Multifamily Property In Tamarac, Florida For $73M
SOLDMultiFamily

The CaraCo Group Of Companies Acquires Eden West Multifamily Property In Tamarac, Florida For $73M

$73,000,000

Units

73,000,000

Asset Type

MultiFamily

Closing

Nov 1, 2023

AI

The CaraCo Group of Companies has acquired the Eden West multifamily property in Tamarac, Florida. The purchase price for this property was $73 million, and The CaraCo Group of Companies secured a $50 million acquisition loan from Sound Point Capital Management. The property is located at 8601 W McNab Road, near Everglades National Park. It sits on a 6.24-acre parcel of land and consists of 212 units. With a price per unit of $344,340, this acquisition marks a significant transaction in the Tamarac market.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $73,000,000
  • Address: 8601 West Mcnab Road
  • Market: Tamarac
  • Acres: 6.24
  • Buyer: The CaraCo Group of Companies - Gennaro DiSanto
  • Seller: Foundation Capital Partners - David Steinberg; Eden Multifamily - Jay Jacobson
  • Lender: Sound Point Capital - Stephen Ketchum
  • Units: 212
  • Price Per Unit: $344,340

This deal was made possible through the representation of Gennaro DiSanto from The CaraCo Group of Companies as the buyer. David Steinberg from Foundation Capital Partners and Jay Jacobson from Eden Multifamily acted as the sellers. Stephen Ketchum from Sound Point Capital played a key role as the lender, providing the $50 million acquisition loan. The acquisition of the Eden West property adds a notable asset to The CaraCo Group of Companies' portfolio in the Tamarac market.

Players

Sound Point Capital Management
Sound Point Capital ManagementLender

Market 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

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93