Starwood Capital Group, Tiber Capital Group, And Avi Stern - MIA Real Holdings LLC. Sell Single Family Rental Portfolio In Lantana, Greenacres, Lake Worth, Boynton Beach, West Palm Beach & Delray Beach For $22.8M
Lantana, Florida, United States
$22,800,000
Building Size
—
Asset Type
Single Family Residence
Closing
Jan 14, 2022
AI
The Single Family Rental Portfolio located in Lantana, Greenacres, Lake Worth, Boynton Beach, West Palm Beach, and Delray Beach has been sold for a total price of $22,800,000. The portfolio consists of single-family properties in these desirable locations.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $22,800,000
- Buyer: Starwood Capital Group - Barry Sternlicht, Tiber Capital Group - Simon Frost & Alex Rodriguez
- Seller: Avi Stern - MIA Real Holdings LLC
- Brokers: Jaret Turkell, Roberto Pesant & Andrew Curtis - Berkadia
The deal involved prominent individuals and companies in the real estate industry. The buyer consortium includes Starwood Capital Group represented by Barry Sternlicht, and Tiber Capital Group represented by Simon Frost and Alex Rodriguez. The seller, Avi Stern, is associated with MIA Real Holdings LLC. The transaction was facilitated by brokers Jaret Turkell, Roberto Pesant, and Andrew Curtis from Berkadia.
Players
Lantana Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93