IMC Equity Group Acquires Student Housing & Land In North Miami From Johnson & Wales University For $21M
SOLD
$21,000,000
Florida
See Similar DealsSold 07/30/2020
SOLD
IMC Equity Group Acquires Student Housing & Land In North Miami From Johnson & Wales University For $21M
12350 Biscayne Boulevard, North Miami, FL, USA
See Similar DealsSold 07/30/2020
Summary
FLORIDA
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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