Multifamily investment firm Category Five Real Estate bought a Deerfield Beach apartment complex for $24.6 million.
Aventura-based Category Five, led by brothers Mike and Leon Peisach, bought the six two-story buildings at 311-601 Northwest 42nd Court from Prashkovsky USA, according to records and real estate database Vizzda. The deal breaks down to $157,692 per apartment.
Records and Vizzda show that Boise, Idaho-based Hawkins Companies, led by CEO Brian Huffaker, also is a buyer, purchasing a 27.6 percent stake in the property.
The buyer took out a $14.8 million fixed-rate loan with a seven-year term, according to a Berkadia news release. Santander Bank is the lender, records show.
Yoav Yuhjtman and Jose Mota of Berkadia represented Prashkovsky USA in the sale. Members of Berkadia also represented the buyer in the financing deal.
The complex, called San Marco 1, was completed from 1973 to 1974 on 6.2 acres, according to Vizzda and a Berkadia news release. It consists of two-bedroom apartments ranging from 810 square feet to 900 square feet.
Prashkovsky USA purchased the property in two deals in 2011 and 2016 for a combined $7.5 million, according to records.
San Marco 1 is fully leased, Mike Peisach told The Real Deal.
He and Leon Peisach officially founded Category Five Real Estate in 2021, though they started purchasing properties in about 2013, Mike Peisach said. The firm mainly focuses on multifamily.
The Peisachs’ family office is Category…
