Sorrento Property Group Sells Multifamily Assets In Pembroke Park And Pensacola For $30M

A multifamily property transaction took place involving 5525 Southwest 41st Street and 2702 Massachusetts Avenue in Pembroke Park and Pensacola, FL. The asset comprises a total of 173 units, and the sale price was recorded at $30,000,000, resulting in a price per unit of $173,410.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Address: 5525 Southwest 41st Street & 2702 Massachusetts Avenue
• Market: Pembroke Park & Pensacola, FL
• Units: 173
• Price per Unit: $173,410
• Seller: Raphael Toledano - Sorrento Property Group

Raphael Toledano, the founder and CEO of Sorrento Property Group, oversaw the transaction. The firm indicated plans to reinvest the proceeds from this sale into larger garden-style apartment communities that will feature at least 150 units in expanding Sun Belt markets.