Deutsche Finance America Acquires Property At 1751 Collins Ave Miami Beach For $52M With Jonathan Seabolt As Buyer's Rep
1751 Collins Ave, Miami Beach, FL, 33...
$52,000,000
Building Size
—
Asset Type
—
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in the transaction is located at 1751 Collins Ave, Miami Beach, FL. It was sold for $52,000,000.00 and has a square footage of 0 in the Miami Beach market.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $52,000,000.00
- Buyer: Deutsche Finance America
- Seller: Unknown
- Buyer's Representative: Jonathan Seabolt (Clearwater Capital Management)
The transaction is part of a joint venture where SHVO, Bilgili Group, and Deutsche Finance America acquired two Miami Beach hotels for a total of $139.9 million. The Richmond Hotel, located at 1757 Collins Ave., was also part of this acquisition, which included additional properties and amenities contributing to the overall deal.
On the Map
$52,000,000
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Players
Miami Beach 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93