SOLD
Gulf Bay Group Of Companies Acquires Condo In Naples For $500M
6885 Pelican Bay Boulevard, Naples, FL 34108
$500,000,000
$42,513/SF
Building Size
11,761 SF
Asset Type
—
Closing
Nov 12, 2021
About this deal
AI
A condo unit located at 6885 Pelican Bay Blvd in Naples was sold in a recent transaction. The property consists of 81 units in total.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $500,000,000 (Approx)
- Address: 6885 Pelican Bay Blvd
- Market: Naples
- Seller: KKR - Roger Morales; Gulf Bay Group of Companies - Aubrey Ferrao
The sale of the condo unit was facilitated by KKR's representative, Roger Morales, and Gulf Bay Group of Companies' representative, Aubrey Ferrao. The transaction was completed on 11/12/2021.
Players
Naples 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93