Category Five buys Sunrise multifamily portfolio for $32M
Category Five Real Estate expanded its multifamily holdings after paying $32.3 million for a Broward County portfolio. Aventura-based Category Five, led by brothers Leon and Mike Peisach, acquired four properties consisting of 26 one- and two-story buildings with 184 apartments combined, records and real estate database Vizzda show. The deal breaks down to $175,434 per unit. Category Five partially financed the purchase with a $21 million mortgage from Santander Bank. The buildings, all in Sunrise, were completed between 1969 and 1973, records show. The portfolio’s unit mix is studios and one-, two- and three-bedroom apartments. A Marcus & Millichap team […]This article originally appeared on The Real Deal. Click here to read the full story.
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