formerly Boca Palms in Boca Raton
BULK SALE - 344 Units Within a 522-Unit Community
Naples and SW FL Commercial debt REO sales. Ferrer & Associates,LLC
Daytona Beach- Class B, Class A location 204-unit garden-style apartment community located on the south side of Beville Road (FL-400), approximately 2 miles east of I-95, the area's major highway, and only two miles from Daytona Beach International Airport. The property's superb location in the heart of Volusia County is within minutes of the area's major employers, educational facilities, healthcare centers and some of the world's most famous beaches.
Info- The exteriors of the buildings were painted in 2008 and the parking lot was re-sealed. The pool was resurfaced in 2007 and the roofs were replaced in 2003. However, the property provides a “value-add” opportunity through interior upgrades. A $30 rent premium has been acheived on units with upgraded appliances. The property provides an additional opportunity through kitchen and bath cabinet renovations. Implementation of an upgrade program over the long term for all units would provide an increase in future rental revenue.
|Buildings and Heights||11 two- and three-story buildings|
|Foundation||Poured slab concrete|
|Exterior Walls||Wood frame with stucco finish|
|Paving||Asphalt, re-sealed in 2008|
|Fire Safety||11 buildings with pull stations|
|Roof||Pitched with asphalt shingles, replaced in 2003|
|HVAC||Each unit has a central air handler, condensing units are mounted outside each unit|
Select Unit Amenities:
Assumable 80/20 bond financing available.
|Price:||TBD by Market|
|BULK REO POOL SALE DETAILS|
This blog announcement is to give SEC qualified type of buyers a notice and opportunity for qualified buyers to acquire a substantial portfolios of discounted REO properties at one time or commercial assets as debt or OREO. High end Luxury Jumbo loans/ REO homes or condos on the beach as well.
In order to streamline the registration process and to establish the appropriate business relationships for this opportunity, the following minimum requirements must be met to be considered a potential buyer:
1) Buyer NDA and Letter of Intent (LOI) with final name in which title will be held and the amount of your
preliminary bid. If the purchaser is a corporation, you must include sufficient evidence that the corporation is in good standing with the Secretary of State in the state in which the corporation was formed.
2) Buyer Proof of Funds (POF) currently on deposit with wire capability in the amount of the bid.
3) Deposit Escrow must be opened of $100,000 held by the bank (on FDIC BIDS). $10,000 per 100k must be open on smaller debt sales or local bank deals for pre foreclose offers.
4) Buyer must pass Department of Treasury OFAC check and additional checks.
5) The name on the Letter of Intent, Proof of Funds, and contract must all match. No replacements or substitutions will be allowed once the buyer is registered and the purchase contract may not be assigned.
6. Buyers must enter into an exclusise buyers broker agreement with our brokerage firm or take a direct assignment of contract from Star Capital group Investments, mike rivera or one of our attorneys.
(Detailed information and instructions on registering, submitting your bid, and providing your deposit will be provided with the bid package.)
As an added benefit, those who successfully register and submit a bid will be considered for notification of future bulk sale opportunities.
Investment Real Estate Analyst
Star Capital Group
Ferrer & associates
Ferrer & Associates,LLC