In a recent transaction, Sinatra & Co. acquired the Cocoa Grand Apartments in Cocoa, Florida for $64.3M. This marks their first multifamily property in the area and their fifth overall in the Florida market. The 268-unit complex is conveniently located near US Highway 1 and the Kennedy Space Center.
Built in 2022, this property will undergo various community improvements including upgrades to amenities and landscaping.
The acquisition was financed through Sinatra & Co.’s SCRE FL Value Add Fund with additional support from Stolar Capital, The Nanula Family Office, and Citi Bank as the debt provider. Berkadia facilitated both the sale of Cocoa Grand as well as financing for it. David Etchison, Cole Whitaker,and Mary Beale representedthe seller while Bob Falese of Berkadia’s Philadelphia office arranged financing on behalf of Sinatra & Co.
With over $750 million worth of real estate assets under management consistingof more than4,500 multifamily units,Sinatra continues to be a major player in this industry.
