Pulso Capital Group Buys $22M Pompano Beach BFR Community
Berkadia has arranged the sale and financing of Stellar at Palm Aire, a new build-for-rent community consisting of 39 townhomes located in the center of the Palm Aire Country Club in Pompano Beach, FL.
Pulso Capital Group purchased the property for $21.5 million, or $551,282 per unit.
Roberto Pesant, Jaret Turkell, Yoav Yuhjtman, Omar Morales and Jose Mota of Berkadia represented the seller, Stellar Communities.
Mitch Sinberg, Matt Robbins, Scott Wadler, Brad Williamson and Michael Basinski of Berkadia arranged the debt on behalf of the buyer. Steeprock provided a $14-million, fixed-rate, five-year loan at a 65% LTV, with full term interest only.
Stellar at Palm Aire is west of I-95 halfway between Fort Lauderdale and Boca Raton, and the first new construction in the Palm Aire Golf Course community in over 10 years. The property has two-, three-, and four-bedroom floorplans with rents ranging from $3550 a month to $4,350.
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