CSL Acquires 228-Unit Multifamily Property In Pompano Beach From Edward Farhat For $73 Million

The property involved in this transaction is a multifamily asset located at 1611 South Dixie Highway in Pompano Beach, FL. The sale price was $73,000,000, covering a total of 290,743 square feet across 5.1 acres, consisting of 228 units with a price per unit of $320,175 and a price per square foot of $251.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,000,000
• Address: 1611 South Dixie Highway, Pompano Beach, FL
• Units: 228
• Price per Unit: $320,175
• Square Footage: 290,743
• Price per Square Foot: $251
• Seller: Edward Farhat - Aviara Properties
• Buyer: CSL
• Brokers: Roberto Pesant, Jose Mota & Wouter Lips - Cushman & Wakefield
• Lender: Ladder Capital Realty III

In addition to the primary transaction, the buyer also acquired the 36-unit Aviara on the Ave in Lake Worth Beach for $6.67 million. The buyer, CSL, assumed a $58 million loan from Ladder Capital as part of the deal.