Berkadia Arranges $23M Sale of SFR Portfolio in Palm Beach County
Berkadia has arranged the sale of a single-family rental portfolio composed of 57 homes in Palm Beach County, FL for $22.8 million (approximately $400,568 per home). The homes are scattered throughout the county from West Palm Beach to Delray Beach.
Jaret Turkell and Roberto Pesant of Berkadia Miami alongside Mark Forrester and Andrew Curtis of Berkadia Phoenix marketed the property on behalf of the seller, MIA Real Rentals II.
“Investor interest in single-family rental housing has been increasing for the past several years, but the asset class’s strong performance amid the COVID-19 pandemic has solidified SFRs as alternative investment that is here to stay,” said Turkell. “As rapid price appreciation continues to accelerate in the for-sale housing market, first-time home buyers remain priced out, a trend that will continue make SFRs in Palm Beach County more attractive and contribute to rent appreciation.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.