Blackstone Acquires Multifamily Property In Coconut Creek For $31.2M

The recently closed property transaction in Coconut Creek involved a multifamily asset located at 3597 Wiles Road. The property spans across approximately 20.3 acres in this market. The transaction took place on January 13, 2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $31,230,000
• Address: 3597 Wiles Road
• Market: Coconut Creek
• Acres: 20.3

The buyer in this transaction was Blackstone, represented by Stephen Schwarzman. On the other side, the seller was the Cornerstone Group.

The property was sold for a total price of $31,230,000. It consists of 300 units, with an average price per unit of $104,100. The total square footage of the property is approximately 310,750, resulting in a price per square foot of $100.