CA Ventures Acquires Student Housing In Boca Raton For $80M
SOLD
$80,000,000
Florida
See Similar DealsOther1,288 SF
Sold 01/11/2021
SOLD
CA Ventures Acquires Student Housing In Boca Raton For $80M
135 Northwest 20th Street, Boca Raton, FL, USA
See Similar DealsOther1,288 SF
Sold 01/11/2021
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$62,111
Total Square Footage:1,288 SF
Transaction Type:Sale
The student housing property located at 135 Northwest 20th Street in Boca Raton has been sold for a total transaction amount of $80,000,000. The property consists of 159 units, with an average price per unit of $503,000. The sale took place on January 11, 2021, and the buyer was CA Ventures, represented by Tom Scott. The seller in this transaction was Investcorp International.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $80,000,000
- Address: 135 Northwest 20th Street, Boca Raton
- Units: 159
- Price Per Unit: $503,000
Tom Scott, representing CA Ventures, played a crucial role as the buyer in this student housing transaction. On the other side of the deal, Investcorp International acted as the seller. This significant sale underscores the demand for student housing properties in the Boca Raton market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77
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