Lone Star Funds & Woolbright Development Acquires Retail Property In Palm Beach Gardens For $101.7M
11290 Legacy Ave, Palm Beach Gardens, FL, USA
$101,660,000
$239/SF
Building Size
425,316 SF
Asset Type
Retail
Closing
Oct 27, 2021
AI
Lone Star Funds and Woolbright Development have acquired a retail property located at 11290 Legacy Ave in Palm Beach Gardens. The property spans 425,316 square feet, with a sale price of $101,660,000, resulting in a price per square foot of $239.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $101,660,000
- Date: 10/27/2021
- Address: 11290 Legacy Ave
- Market: Palm Beach Gardens
- Buyer: Lone Star Funds & Woolbright Development
- Brokers: Casey Rosen & Dennis Carson - CBRE
- Square Footage: 425,316
Casey Rosen and Dennis Carson of CBRE represented Lone Star Funds and Woolbright Development in the transaction.
Players
Palm Beach Gardens Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93