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Longpoint Realty Partners LP Acquires Retail Asset At Palm Aire Marketplace For $33.1M

Property Image
SOLD
$33,100,000
Bastian Schauer
Ariel Davis
+ 2

Florida

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Retail143,219 SF
Sold
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Property Image
SOLD

Longpoint Realty Partners LP Acquires Retail Asset At Palm Aire Marketplace For $33.1M

299 S Powerline Rd

See Similar Deals
Retail143,219 SF
Sold
Bastian Schauer
Ariel Davis
+ 2
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$231
Total Square Footage:143219 SF
Transaction Type:Sale

The property involved in this transaction is located at 299 South Powerline Road in Palm Aire Marketplace, Pompano Beach. The asset type is retail, encompassing a total of 143,219 square feet. The transaction was completed for a price of $33,100,000, resulting in a price per square foot of $231.

Summary of transaction details:

The transaction involved key brokers representing the buyer, Longpoint Realty Partners LP. The brokers facilitating this deal are affiliated with Colliers, showcasing a collective effort from industry professionals Harry Blyden, Bastian Schauer, Ariel Davis, Ruben Suarez, and Billy Weiser.

Players

Harry Blyden
3 deals$53.8M volume
BROKER

Bastian Schauer
Colliers
40 deals$2.9B volume(561) 281-6656
BROKER

Ariel Davis
Colliers
1 deal$33.1M volume(305) 779-3152
BROKER

Ruben Suarez
Colliers
1 deal$33.1M volume(305) 390-4286
BROKER

Billy Weiser
Colliers
3 deals$47.1M volume(786) 302-0363
BROKER

Details

SOLD
IMAGE: Billy Weiser, Ruben Suarez, Harry Blyden, Bastian Schauer & Ariel Davis DATE: 08/13/2024 ADDRESS: 299 South Powerline Road - Palm Aire Marketplace MARKET: Pompano Beach ASSET TYPE: Retail BUYER: Longpoint Realty Partners LP BROKERS: Harry Blyden, Bastian Schauer (@sofloinvestmentsales), Ariel Davis, Ruben Suarez & Billy Weiser - Colliers (@ColliersInternational) SALE PRICE: $33,100,000 SF: 143,219 ~ PPSF: $231

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

$1,765,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$117,597.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,910.89
Annual Debt Service$1,882,930.64