IMC Equity Group Acquires Student Housing & Land In North Miami From Johnson & Wales University For $21M
12350 Biscayne Boulevard, North Miami, FL, USA
$21,000,000
Building Size
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Asset Type
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Closing
Jul 30, 2020
AI
The property involved in this transaction is a student housing and land located at 12350 Biscayne Boulevard & 1650 Northeast 124th Street in North Miami. The sale took place on July 30, 2021. The property was sold by Johnson & Wales University to Yoram Izhak - IMC Equity Group for a total price of $21,000,000.
Summary of transation details
- Property Type: Student Housing & Land
- Transaction Amount: $21,000,000
- Buyer: Yoram Izhak - IMC Equity Group
- Seller: Johnson & Wales University
- Market: North Miami
Yoram Izhak, representing IMC Equity Group, was the buyer in this transaction. The deal involved the sale of the student housing and land from Johnson & Wales University.
Players
North Miami CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93