Deerfield Beach, Florida (October 4, 2017) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently sold Coco Palms, a 18-unit multi-family property located at 2131 NE 41st Street in Lighthouse Point, Florida. The seller, Sungate Estates, LLC, sold the multi-family property to L and H Land Corporation, LLC.
Daniel Otten, Vice President, Brokerage and Advisory Services at Friedman represented both the buyer and the seller in this transaction.
“The multi-family market is at a peak in South Florida and doesn’t seem to be dropping anytime soon. Climbing ownership costs have kept rental demand high along with South Florida’s strong population and job growth. It is common to see deals priced in the 4-6% cap rate range across most multifamily assets,” said Otten.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Integrated Real Estate Solutions provides clients with a single point of contact for the full range of Advisory, Property Management, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 10,000 apartment homes throughout Florida and the United States. Headquartered in Farmington Hills, Michigan, Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.
For more information, please visit: www.friedmanrealestate.com.