MHCommercial Real Estate Fund & Waterfall Asset Management LLC Acquires Office Property In Palm Beach Gardens For $49.75M
SOLD
$49,750,000
+ 1
California
See Similar DealsOffice2,432,740 SF
Sold 05/25/2020
SOLD
MHCommercial Real Estate Fund & Waterfall Asset Management LLC Acquires Office Property In Palm Beach Gardens For $49.75M
11760 U.S. Hwy 1 N, Palm Beach Gardens, Fl 33408, Usa
See Similar DealsOffice2,432,740 SF
Sold 05/25/2020
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$20
Total Square Footage:2,432,740 SF
Transaction Type:Sale
A closed transaction in Palm Beach Gardens has recently taken place, involving an office property located at 11760 U.S. Hwy 1 N. The transaction was completed on May 25, 2020.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $49,750,000
- Square Footage: 243,274
- Price per Square Foot: $204
The buyer of the property was MHCommercial Real Estate Fund & Waterfall Asset Management LLC, while Alliance Partners HSP acted as the seller in this transaction. The representation for this deal was provided by Amy Julian, Christian Lee, Royce Rose, and José Lobón.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,653,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$176,751.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$235,840.38
Annual Debt Service$2,830,084.58
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