Educational Growth Fund Acquires School Portfolio In Homestead & Hollywood For $77.6M
2251 East Mowry Drive, Homestead, FL 33033, USA
$77,600,000
$371/SF
Building Size
208,850 SF
Asset Type
—
Closing
Apr 27, 2021
About this deal
AI
The recently closed property transaction involves a school located at 2251 Mowry Drive and 2025 McKinley Street in Homestead and Hollywood markets. The asset spans 208,850 square feet, with a price per square foot of $372. The property sits on 21.1 acres, valued at $3,677,725 per acre. The sale took place on April 28, 2021, with a total transaction amount of $77,600,000.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $77,600,000
- Address: 2251 Mowry Drive & 2025 McKinley Street
- Market: Homestead & Hollywood
- Square Footage: 208,850
- Price per Square Foot: $372
- Acres: 21.1
- Price per Acre: $3,677,725
The buyer in this transaction is Educational Growth Fund, represented by Hugh Jarrett, Dru Damico, Taylor Smith, Sherilynn Moore, and Albert Fioravanti. On the other hand, the seller is MG3 Group, represented by Marcelo Saiegh, Hernan Leonoff, and Gustavo Bogomolni. Both parties successfully closed the deal, marking a significant milestone in the education industry.
On the Map
$77,600,000
$371/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93