Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Category Five Acquires Four Vintage Sunrise Multifamily Communities
Category Five Real Estate (CFRE), led by brothers Mike and Leon Peisach, obtained financing to purchase the Sunrise Portfolio: four vintage multifamily communities totaling 185 units located in Sunrise, Florida. Jomy Zacharias was the seller of the group.
Brad Williamson, along with Mitch Sinberg, Matt Robbins and Kyle Ryan of Berkadia Miami, arranged a $21 million loan for CFRE’s $32.28 million acquisition. Santander’s Peter Triano provided a five-year, fixed-rate loan with two years of interest-only and a 30-year amortization.
The firm plans to enhance the newly acquired properties by adding modern amenities, improving interiors and exteriors, and creating community-focused upgrades.
The four properties in the portfolio, built between 1969 and 1973, are located less than a mile apart in Sunrise. They are all one—or two-story garden-style concrete block assets.
The properties in the portfolio are:
- Sunrise Gardens – 2117, 2113, 2108 NW 64th Avenue
- La Haina – 7041 Sunset Strip
- Lake Success – 6354, 6270 & 2551 NW 26th Street
- Riverview – 2650 NW 64th Avenue
- ◦Sale/Acquisition
