Riverstone Capital Group Acquires West Palm Beach Shopping Center For $19.6M
$19,600,000
SOLD
$19,600,000
Florida
See Similar DealsRetail112,364 SF
Sold 12/02/2019
$19,600,000
SOLD
Riverstone Capital Group Acquires West Palm Beach Shopping Center For $19.6M
4316 Forest Hill Boulevard, West Palm Beach, FL, USA
See Similar DealsRetail112,364 SF
Sold 12/02/2019
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$174
Total Square Footage:112,364 SF
Transaction Type:Sale
The shopping center located at 4316-4450 Forest Hill Boulevard in West Palm Beach was sold for $19,600,000. The asset encompasses a total of 112,364 square feet, with a price per square foot of $174.
Summary of transaction details:
- Property Type: Shopping center
- Transaction Amount: $19,600,000
- Address: 4316-4450 Forest Hill Boulevard
- Market: West Palm Beach
- Seller: Trinity Place Holdings
- Buyer: Riverstone Capital Group - Jorge Portela
- Brokers: Luis Castillo, Danny Finkle, Eric Williams - JLL
The deal involved key individuals including Jorge Portela representing Riverstone Capital Group, alongside brokers Luis Castillo, Danny Finkle, and Eric Williams from JLL, who played significant roles in facilitating the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,045,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,634.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,914.00
Annual Debt Service$1,114,967.99
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