Sinatra & Co. acquired the Cocoa Grand Apartments, its first multifamily asset in Cocoa, Florida, and its fifth asset in the Florida market, for $64.3M. The 268-unit complex is near US Highway 1 and the Kennedy Space Center.

Built in 2022, the property will undergo community improvements, including amenity and landscaping improvements. 

Sinatra & Co. financed the acquisition through its SCRE FL Value Add Fund along with Stolar Capital, The Nanula Family Office, and Citi Bank as the debt provider. Berkadia completed the sale and financing of Cocoa Grand. David Etchison, Cole Whitaker, and Mary Beale arranged the sale on behalf of the seller. Bob Falese of Berkadia’s Philadelphia office arranged the financing on behalf of Sinatra & Co. 

Sinatra manages more than $750 million in real estate assets comprised of over 4,500 multifamily units.