Bellino Equities Acquires University Marketplace Retail Center In Pembroke Pines For $21.25M
100 S University Dr, Hollywood, FL, 3...
$21,250,000
$141/SF
Building Size
150,000 SF
Asset Type
Retail
Closing
Jul 18, 2017
About this deal
AI
The University Marketplace, a 150,000-square-foot retail center located at 100 S University Dr, Hollywood, FL, was recently sold in Pembroke Pines. The property was acquired for $21,250,000.00, resulting in approximately $142 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $21,250,000.00
- Address: 100 S University Dr, Hollywood, FL
- Market: Pembroke Pines
- Buyer: Bellino Equities
- Seller: UMP Real Estate Holding
Todd Nepola of Current Capital Real Estate Group represented the buyer, Bellino Equities, in the transaction. The seller, UMP Real Estate Holding, an entity of Arena Capital Holdings, enlisted Cushman & Wakefield to market the retail center on their behalf. Bellino Equities, led by Michael and Stephen Bellino, plans to renovate the property following the acquisition.
On the Map
$21,250,000
$141/SF
Retail
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Pembroke Pines Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93