CenterPoint Properties Acquires Storage Facility In Miami Gardens For $47.5M
17707 Northwest Miami Court
$47,500,000
Building Size
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Asset Type
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Closing
Apr 7, 2022
AI
A storage facility located at 17707 Northwest Miami Court in Miami Gardens has been sold for a price of $47,500,000. Spanning across 12 acres, the property was acquired by CenterPoint Properties, represented by Bob Chapman. The seller, Relentless Capital, was represented by Evan Seiden and Drake Real Estate Partners, represented by David Cotterman and Nicolas Ibanez. The transaction was facilitated by Jonathan Salk of ZYX Capital.
Summary of transation details
- Property Type: Storage Facility
- Transaction Amount: $47,500,000
- Address: 17707 Northwest Miami Court
- Market: Miami Gardens
- Acres: 12
Bob Chapman, on behalf of CenterPoint Properties, secured the purchase of the storage facility. Evan Seiden and Drake Real Estate Partners, represented by David Cotterman and Nicolas Ibanez respectively, acted as the sellers. Jonathan Salk of ZYX Capital played a key role in facilitating the transaction.
Players
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
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93