Tailwind Group Acquires 542-Bed Sweetwater Student Housing For $46M
737 Southwest 109th Avenue, Miami, FL 33174
$46,000,000
Units
149
Asset Type
—
Closing
Jan 11, 2022
About this deal
AI
The student housing property located at 737 SW 109th Ave in Sweetwater has been sold for a total price of $46,000,000. The property consists of 149 units with a total of 542 beds. Each unit was sold at an average price of $308,725.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $46,000,000
- Address: 737 SW 109th Ave, Sweetwater
- Market: Sweetwater
- Number of Units: 149
- Total Beds: 542
The buyer of the property is Tailwind Group, represented by Kyle Smith, Reggie Reed, Michael Sather, and Landon Smith. The seller is Greystar, represented by Bob Faith.
On the Map
$46,000,000
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Players
Miami CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93