Royal Senior Care Acquires Development Site In Richmond Heights, Miami For $41.9M
Southwest 152nd Street, Richmond Heights, Miami-Dade, FL, USA
$41,900,000
$193/SF
Building Size
217,123 SF
Asset Type
Development Site
Closing
Apr 15, 2021
AI
A development site located on Southwest 152nd Street in Richmond Heights, Miami, has recently been involved in a closed property transaction. The property spans across 8.7 acres and features a total area of 217,123 square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 04/16/2021
- Market: Richmond Heights, Miami
- Lender: BHI & Coastal States Bank
- Landlord: Royal Senior Care - Avi Bittan
- Broker: Healthcare Group
- Loan Amount: $41,900,000
- Acres: 8.7
- Square Feet: 217,123
The property transaction involved Avi Bittan from Royal Senior Care as the landlord. The loan for the transaction amounting to $41,900,000 was provided by BHI & Coastal States Bank. The Healthcare Group acted as the broker for this deal.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93