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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.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Omar Morales
Associate Director
305.878.2278
omar.morales@berkadia.com
Yoav Yuhjtman
Senior Director
786.853.5555
yoav.yuhjtman@berkadia.com
Roberto Pesant
Senior Managing Director
305.975.5956roberto.pesant@berkadia.com
Jaret Turkell
Senior Managing Director
561.573.6140
jaret.turkell@berkadia.com
Investment Sales
Wouter Lips
Financial Analyst
786.830.9002
wouter.lips@berkadia.com
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LOCATION
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Miami
1111 Brickell Ave
Suite 1650
Miami, FL 33131
Boca Raton
5100 Town Center CircleSuite 550
Boca Raton, FL 33486
[CEROS OBJECT]
Accretive Assumable Debt The Village at Eastpointe can be acquired assuming the current loan on the property. The current loan has a fixed 5.78% interest rate with one year of I/O remaining. The loan matures on 06/01/2028 and has current loan balance of $42,540,000.
KEY Highlights
Tremendous Value-Add Potential28% of the units at The Village at Eastpointe remain to be renovated, with a $350+ premium proven out in the rent roll. Current ownership focused primarily on renovating the interior of the units. A new buyer will also have the opportunity to enhance the amenities and exterior, including landscaping at the property.
High Barriers to EntryThere are zero garden-style properties under construction within a 3-mile radius of The Village at Eastpointe.
Discount to Replacement CostThe Village at Eastpointe provides an opportunity to acquire an asset significantly below replacement cost due to limited land remaining, as well as inflated construction costs.
Rent vs OwnWith homeownership costs at an all-time high, The Village at Eastpointe is the reasonable choice for renters in Oakland Park. Surrounded by million-dollar homes, the rent vs. own spread in Oakland Park exceeds $7,000.
5201 Dixie Hwy, Fort Lauderdale, FL 33334
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THE OPPORTUNITY
Berkadia Real Estate Advisors is pleased to exclusively present the opportunity to acquire The Village at Eastpointe (the “Property”)— a value-add, garden-style property with 296 units, located at 5201 N. Dixie Highway (just east of I-95) in Fort Lauderdale, FL with accretive assumable debt. 28% of the units remain to be renovated, with a proven $350+ premium on renovated units.
Opportunity To Acquire A Value-Add, Garden-Style Property in Fort Lauderdale With Accretive Assumable Debt
5201 N. Dixie Hwy | Fort Lauderdale, FL 33334
The location has a unique mix of office and retail that is not available in most suburban markets, is adjacent to a Publix and only eight minutes to the beach. The access to I-95, Cypress Creek Business District, Oakland Park’s Central Business District and Downtown Fort Lauderdale gives the Property urban-like levels of ingress to employment nodes while retaining its value proposition and suburban feel.The Village at Eastpointe represents the rare opportunity to acquire a suburban value-add asset within a long-term infill location.
UNITS
296
Proven out premium
$355
assumable debt
5.78%
THE LOCATION
KEY HIGHLIGHTS
THE OPPORTUNITY
the location
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The Opportunity
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Strategic Location East of I-95Despite the suburban feel of the area, The Village at Eastpointe is located a few minutes away from over 12M SF of office and retail.
mortgage bankers
MITCH SINBERG
Senior Managing Director561.609.4006mitch.sinberg@berkadia.com
BRAD WILLIAMSON
Managing Director786.646.2580brad.williamson@berkadia.com