Ultimate Equity has acquired Royal Oaks, a 69-unit gated townhome community in Hollywood, Florida’s Emerald Hills neighborhood, for $32 million in an all-cash 1031 exchange, according to Cushman & Wakefield, which brokered the sale. The price works out to a record per-unit figure for the submarket, at a capitalization rate below 5%, the kind of pricing typically associated with scarce, highly sought-after assets rather than a soft market.
The numbers behind the deal are genuinely striking. The seller, an entity called Royal Oak TH run by Preston Giuliano Capital Partners, paid $23.5 million for the property in August 2025. Selling less than 12 months later for $32 million represents a gain of roughly 36%. “Assets like Royal Oaks practically never come to market in Emerald Hills,” said Cushman & Wakefield’s Virgilio Fernandez, who brokered the deal alongside Mitash Kripalani. “It is a gated, for-rent townhome community in one of Hollywood’s most desirable and supply constrained neighborhoods.”
Royal Oaks, built in 2009, spans 13 buildings and 116,886 square feet across 5.1 acres, with three-bedroom, 2.5-bath units at 1,694 square feet each including a private garage. Monthly rents currently range from $3,228 to $3,281. The buyer, Ultimate Equity, is owned by David Sedaghati, who also runs footwear maker Ultimate Shoes and has been an active South Florida investor, having sold a Miami Wynwood development site for $54 million in March…