Updated Oct 28, 2024
Arena Capital Acquires West Palm Beach Multifamily Portfolio For $17M
West Palm Beach, Florida, United States
$17,000,000
Units
87
Asset Type
MultiFamily
Closing
Jan 23, 2022
About this deal
AI
A multifamily portfolio in West Palm Beach has been sold for a total of $17,000,000. The portfolio consists of 87 units, resulting in a per unit price of $195,402. The sale was completed on January 24, 2022, and the property is located in the West Palm Beach market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Units: 87
- Price Per Unit: $195,402
Arena Capital purchased the multifamily portfolio from Philips International. The lending institution involved in the deal was Leumi.
On the Map
$17,000,000
MultiFamily
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Players
West Palm Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93