5501 SW 11TH STREET | MARGATE, FL 33068
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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Value-Add Potential: $185+ rent premium by renovating the interiors and adding washer/dryers (hookups already installed)
Strong Location: Situated on 19 acres, centered by a lake, ideally located next to an ALDI, off State Rd 7 and Florida’s Turnpike with 50M+ SF of office/retail nearby
Supply Pipeline: No competing supply under construction within three-miles
Oakland Hills represents a unique opportunity to acquire a low density, waterfront property across 18.9 acres. Residents are offered exclusive suburban living just minutes away from convenient retail.
5501 SW 11TH STREET
MARGATE, FL 33068
THE OPPORTUNITY
UNITS
189
Avg. SF
625
Avg. Rents
$1,696
Berkadia Real Estate Advisors is pleased to exclusively present the opportunity to acquire Oakland Hills (the “Property”) – a 189-unit property built in 1989, located at 5501 SW 11th Street in Margate. The Property is ideally located near 7M SF of Retail, and offers easy access to Florida’s Turnpike and State Road 7, which together accommodate around 180,000 vehicles daily. This prime location provides convenient access to over 50 million square feet of office space within a 30-minute commute. Oakland Hills is comprised of 189 units across 28 single-story buildings, with primarily one-bedroom apartments (155 units). The Property has had minimal interior renovations allowing a buyer the opportunity to renovate all 189 units for an estimated $ 185/unit/month premium. All units have washer and dryer hookups, but ownership has not included the appliances, providing immediate value-add income for a potential buyer. The Property spans 18.9 acres and features a central lake surrounded by abundant greenery, providing residents with a lush and spacious living environment. Oakland Hills represents a unique opportunity to acquire a stabilized asset with strong cash flows, above-average market returns from day one, and an additional clear value-add strategy. There is the option for a loan assumption, with the terms detailed below.
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Omar Morales
Director
305.878.2278
omar.morales@berkadia.com
Yoav Yuhjtman
Senior Director
786.853.5555
yoav.yuhjtman@berkadia.com
Roberto Pesant
Senior Managing Director
305.975.5956 roberto.pesant@berkadia.com
Miami
1111 Brickell Ave
Suite 1650
Miami, FL 33131
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Boca Raton
5100 Town Center Circle Suite 550
Boca Raton, FL 33486
Jaret Turkell
Senior Managing Director
561.573.6140
jaret.turkell@berkadia.com
Investment Sales
mortgage banking
Wouter Lips
Senior Financial Analyst
786.830.9002
wouter.lips@berkadia.com
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BRAD WILLIAMSON
Managing Director 786.646.2580 brad.williamson@berkadia.com
KYLE RYAN
Vice President - Originations 610.613.5067 kyle.ryan@berkadia.com
Assumable Debt: Option to assume loan with a 4.69% interest rate and ~$19.25M balance with 3 years remaining
DAVID GREENBURG
Financial Analyst
305.260.4973
david.greenburg@berkadia.com
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