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Ultimate Equity buys Hollywood, Fla., townhome community for $32M
The 69-unit Royal Oaks deal is an all-cash 1031 exchange, pricing the property at a record level for the submarket with a cap rate below 5 percent.
Ultimate Equity has acquired the 69-unit Royal Oaks gated townhome community in Hollywood, Florida, for $32 million, Cushman & Wakefield announced.
The seller, an entity tied to Preston Giuliano Capital Partners, sold the property for about 36 percent more than it paid less than 12 months earlier, with the prior sale recorded at $23.5 million in August 2025.
Royal Oaks was built in 2009 and includes 13 buildings totaling 116,886 square feet on a 5.1-acre site, according to the transaction details. Units average 1,694 square feet with three bedrooms and 2.5 bathrooms, and the community lists monthly rents ranging from $3,228 to $3,281.
Cushman & Wakefield said the off-market acquisition was completed on an all-cash 1031 exchange basis, with brokers noting record pricing per unit for the Emerald Hills submarket and a capitalization rate below 5 percent. Virgilio Fernandez and Mitash Kripalani of Cushman & Wakefield brokered the sale.