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Brookwood Financial Partners Acquires Office Building In Boca Raton For $29.1M

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SOLD
$29,100,000

Florida

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Office101,940 SF
Sold 11/23/2021
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Property Image
SOLD

Brookwood Financial Partners Acquires Office Building In Boca Raton For $29.1M

5901 Broken Sound Pkwy NW, Boca Raton, FL, USA

See Similar Deals
Office101,940 SF
Sold 11/23/2021
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$285
Total Square Footage:101,940 SF
Transaction Type:Sale

Brookwood Financial Partners has acquired an office property located at 5901 Broken Sound Pkwy NW in Boca Raton. The transaction, which took place on November 23, 2021, involved a sale price of $29,100,000. The office building spans approximately 101,940 square feet, resulting in a price per square foot of $285. The seller, G&C Sabre Investors, was represented by Mark Corlew. On the buyer's side, Tom Brown of Brookwood Financial Partners led the acquisition. The deal was facilitated by brokers Tyler S. Kuhlman, Douglas K. Mandel, and Jonathan Moore of Marcus & Millichap.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $29,100,000
  • Address: 5901 Broken Sound Pkwy NW, Boca Raton
  • Square Footage: 101,940
  • Price Per Square Foot: $285
  • Buyer: Brookwood Financial Partners - Tom Brown
  • Seller: G&C Sabre Investors - Mark Corlew
  • Brokers: Tyler S. Kuhlman, Douglas K. Mandel, and Jonathan Moore - Marcus & Millichap

This transaction showcased the competitive nature of the debt terms, with financing exceeding $21 million provided by Jonathan Moore to Brookwood Financial Partners. It also reflects the growing interest in investing in Florida, as demonstrated by the migration of debt and equity to the state.

Players

9 deals$259.3M volume(917) 673-9455
BROKER


Tyler Kuhlman
CBRE
113 deals$1.6B volume(561) 685-0140
BROKER

Tyler Kuhlman
CBRE
113 deals$1.6B volume(561) 685-0140
BROKER

BUYER

Details

SOLD
IMAGE: Jonathan Moore, Mark Corlew, Douglas K. Mandel, Tom Brown & Tyler S. Kuhlman DATE: 11/23/2021 ADDRESS: 5901 Broken Sound Pkwy NW MARKET: Boca Raton ASSET TYPE: Office BUYER: Brookwood Financial Partners - Tom Brown SELLER: G&C Sabre Investors - Mark Corlew BROKERS: Tyler S. Kuhlman (@TylerKuhlman_), Douglas K. Mandel & Jonathan Moore - Marcus & Millichap SALE PRICE: $29,100,000 SF: 101,940 ~ PPSF: $285 NOTE: “Debt terms were some of the most competitive we have seen to date and are a testament to the coveted sponsorship as well as the debt/equity migration to Florida,” stated Moore who provided over $21M in acquisition financing to Brookwood Financial.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,552,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$103,386.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,948.85
Annual Debt Service$1,655,386.15