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.
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