Executive Managing Director Calum Weaver Brings the Second-Largest Single-Family Housing Portfolio in Broward County History to Market
Cushman & Wakefield announced today that it has been named exclusive marketing advisor for a 136-unit single-family housing portfolio in Broward County, FL.
Executive Managing Director Calum Weaver manage the disposition process for a group of private investors. The list price for the portfolio is $26 million.
The portfolio comprises 194,245 square feet of single-family housing (1,428 square feet per home) located throughout Broward County. The homes are currently 98 percent occupied. The portfolio produces nearly $2.7 million in annual gross income with rents averaging approximately $1,639 per month ($1.15 per square foot).
Ownership has invested $5.8 million ($43,000 per home) in capital improvements throughout the portfolio to date. Management of the portfolio can either be assumed or offered free and clear.
“Acquiring an income-producing, single-family housing portfolio is a rare opportunity,” said Weaver. “This is the second-largest single-family housing portfolio to be made available in Broward.”
“Single-family home sales within the portfolio are available below pre-recession pricing,” added Weaver. “This provides an investor the best of both worlds, in-place cash flow and the potential to sell the homes individually at a significant premium in the future.”
For more information, please visit the portfolio’s website.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com
