Freeport Equity Acquires Two Montessori Schools In Jupiter For $12.9M
740 West Indiantown Road & 926 Maplewood Drive
$12,900,000
$212/SF
Building Size
30,400 SF
Asset Type
School
Closing
Oct 11, 2023
About this deal
AI
A Boston-based education real estate firm, Freeport Equity, has acquired two Montessori schools in Jupiter for a total of $12.9 million. The schools were purchased separately from Rohit and Bharati Dandiya. The transaction was supported by an $8.4 million loan from Amerant Bank. Both schools are located at 740 West Indiantown Road and 926 Maplewood Drive, occupying a combined area of 3 acres. The total square footage of the property is 30,400, resulting in a price per square foot of $424.
Summary of transaction details
- Property Type: School
- Transaction Amount: $12,900,000
- Address: 740 West Indiantown Road & 926 Maplewood Drive
- Market: Jupiter
- Acres: 3
Renzo Pisa and Nicholas Kling, representing Freeport Equity, played a key role in the acquisition of the schools. The deal was facilitated with the assistance of Amerant Bank as the lender.
On the Map
$12,900,000
$212/SF
School
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Jupiter School Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93