Cushman & Wakefield Arranges Sale Of Two-Property Multifamily Portfolio In Off-Market Deal
The transaction was arranged by a Cushman & Wakefield team led by Roberto Pesant, Jose Mota and Wouter Lips, who represented both the seller and the buyer.
The transaction was arranged by a Cushman & Wakefield team led by Roberto Pesant, Jose Mota and Wouter Lips, who represented both the seller and the buyer.
Roberto Pesant, Jaret Turkell, Yoav Yuhjtman, Jose Mota, and Omar Morales of Berkadia South Florida led the $24.6 million sale on behalf of the seller. Mitch Sinberg, Brad Williamson, Matt Robbins and Scott Wadler secured $14.76 million in acquisition financing through a bank on behalf of the buyer.
The property is entitled for the development of 301 residential units, 244,000 square feet of office, and just over 7,000 square feet of retail.
Pulso Capital purchased the property for $551,282 per unit.
“The Lake Worth submarket remained at 95% occupancy or above in 2020 and is poised for additional rent growth.”
The sale price equates to $221,250 per unit.
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