Berkadia, a leading real estate company, recently facilitated the sale and financing of San Marco 1 in Deerfield Beach, Florida. The vintage apartment complex consists of 156 units and was sold for $24.6 million by Prashkovsky USA, a prominent family-owned development group.
The South Florida team at Berkadia led by Roberto Pesant successfully negotiated the sale on behalf of the seller. In addition to this transaction, another Berkadia team secured $14.76 million in acquisition financing through a bank for Category Five Real Estate (“CFRE”), based in South Florida.
The non-recourse loan has a fixed rate for seven years with four years interest-only and includes a step-down pre-payment structure. Built in 1973 on an expansive 6.19-acre site at 311 Northwest 42nd Court, San Marco I is an attractive two-story garden-style apartment complex located just west of I-95.
All units are spacious two-bedroom apartments ranging from approximately810 square feet to900 square feet each.The property is conveniently situated within close proximity to both Fort Lauderdale-Hollywood International Airport (30 minutes south) and Palm Beach International Airport (30 minutes north).
