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Berger Commercial Realty Corp. Closes $1.35 Million Sale Of Pompano Beach Apartment Portfolio

FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla. and serving clients around the state, announced brokers Steve Hyatt and Reese Stigliano, SIOR, represented Yellow Park of Pompano, LLC, in the short sale of a five-building, 60-unit apartment portfolio for $1.35 million to Silver Key, LLC.

“The five buildings sold for about $22,500 per unit,” said Stigliano, a principal of the firm. “We negotiated a short sale; the original debt was over $2.9 million. The deal was an all-cash transaction.”

The five, two-story buildings were all built between 1967 and 1970, and feature one-bedroom, one-bathroom units. The buildings are located in Pompano Beach at 170 S.W. 8th St.; 180 S.W. 8th St.; 200 S.W. 8th St.; 220 S.W. 8th St.; and 241 S.W. 8th Court.

BRIEF:

Seller: Yellow Park of Pompano, LLC, represented by Steve Hyatt and Reese Stigliano, SIOR, of Berger Commercial Realty Corp.
Buyer: Silver Key, LLC
Price:  $1.35 million
Description of portfolio:  Five two-story buildings; 60 one-bed, one-bath units
Address of buildings:
– 170 S.W. 8th St., Pompano Beach, FL 33060
– 180 S.W. 8th St., Pompano Beach, FL 33060
– 200 S.W. 8th St., Pompano Beach, FL 33060
– 220 S.W. 8th St., Pompano Beach, FL 33060
– 241 S.W. 8th Court, Pompano Beach, FL 33060

About Berger Commercial Realty Corp.: Founded in 1998, Berger Commercial Realty Corp. is a full service commercial real estate firm.  A local, independent and privately-owned firm, Berger can customize services and adapt to clients needs and the ever changing real estate market.  Services include brokerage/tenant and buyer representation, property management, agency/project leasing, capital advisory / investment sales, construction/project management, and retail services. The company established a dedicated division, Berger Special Assets, to serve as receiver and enhance the value of distressed properties by providing expert management, leasing and sales representation on behalf of lenders and financial institutions.

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