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5901 Broken Sound Pkwy NW, ...

Updated Oct 28, 2024

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

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

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

$29,100,000

$285/SF

Building Size

101,940 SF

Asset Type

Office

Closing

Nov 23, 2021

About this deal

AI

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.

On the Map

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$29,100,000

$285/SF

Office

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Players

Jonathan More

Mayfair Investment Partners

Broker

$259.3M

vol

9 deals

Broker
BL
Brookwood Financial Partners, LLCBuyer
Mark Corlew

Mark Corlew

Seller

$237.4M

vol

8 deals

Seller
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Boca Raton Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $285 per square foot on a published $29.1M for 101,940 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.55%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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