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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

Property Image
SOLD
$22,800,000
Roberto Pesant
Jaret Turkell
+ 1

Florida

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Single Family Residence
Sold 01/14/2022
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Property Image
SOLD

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

See Similar Deals
Single Family Residence
Sold 01/14/2022
Roberto Pesant
Jaret Turkell
+ 1
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Transaction Type:Sale

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

Jaret Turkell
49 deals$3.2B volume
BROKER

Roberto Pesant
Berkadia
32 deals$2.3B volume
BROKER

Andrew Curtis
Berkadia
8 deals$381.5M volume
BROKER

Details

SOLD
IMAGE: Simon Frost, Jaret Turkell, Alex Rodriguez, Roberto Pesant, Barry Sternlicht & Andrew Curtis DATE: 01/14/2022 ADDRESS: Single Family Rental Portfolio MARKET: Lantana, Greenacres, Lake Worth, Boynton Beach, West Palm Beach & Delray Beach ASSET TYPE: Single Family 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 SALE PRICE: $22,800,000

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

$1,216,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$81,003.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$108,083.63
Annual Debt Service$1,297,003.58