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Premier Developers Acquires Retail Property In Westlake For $19.5M

Property Image
SOLD
$19,500,000
Cameron Beck
Kim Flores
+ 2

Florida

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Sold 09/09/2022
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Property Image
SOLD

Premier Developers Acquires Retail Property In Westlake For $19.5M

5060 Seminole Pratt Whitney Road

See Similar Deals
Sold 09/09/2022
Cameron Beck
Kim Flores
+ 2
Contact now

Summary

FLORIDA
Transaction Type:Sale

The property asset involved in the transaction is a retail space located at 5060 Seminole Pratt Whitney Rd in the Westlake market. The sale price was $19,500,000, with a total square footage of 76,356, resulting in a price per square foot of $255.

Summary of transaction details:

The key individuals involved in this transaction include Peter Tiflinsky representing Premier Developers as the buyer, and the seller was represented by Starwood Capital. The brokerage team from JLL comprised Danny Finkle, Eric Williams, Kim Flores, Cameron Beck, and Michael Kavaler, who facilitated the transaction.

Players

Danny Finkle
57 deals$3.9B volume
BROKER

Eric Williams
Newmark
52 deals$2.8B volume
BROKER

Kim Flores
JLL
35 deals$3.2B volume
BROKER

Cameron Beck
JLL
15 deals$929.3M volume
BROKER

Michael Kavaler
JLL
15 deals$817.4M volume(917) 923-4242
BROKER

BUYER


Details

SOLD
IMAGE: Michael Kavaler, Kim Flores, Danny Finkle, Cameron Beck & Eric Williams DATE: 09/09/2022 ADDRESS: 5060 Seminole Pratt Whitney Rd MARKET: Westlake ASSET TYPE: Retail BUYER: Premier Developers - Peter Tiflinsky SELLER: Starwood Capital BROKERS: Danny Finkle, Eric Williams, Kim Flores, Cameron Beck & Michael Kavaler - JLL SALE PRICE: $19,500,000 SF: 76,356 ~ PPSF: $255

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38