Updated Aug 5, 2026
M&ERE Holdings Corp Acquires Development Site In Miami For $5.97M With Broker Edward Schmidt
10095 Southwest 88th Street
$5,970,000
Building Size
—
Asset Type
Development Site
Closing
Aug 4, 2026
About this deal
AI
The transaction involves a development site located at 10095 Southwest 88th Street in the Miami, FL market. The sale price for this property reached $5,970,000. The buyer, M&ERE Holdings Corp., plans to develop a Class A medical office building on the site. The acquisition enhances the buyer’s investment in the Kendall healthcare corridor, targeting future leasing of up to 150,000 square feet for medical office space.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,970,000
- Buyer: M&ERE Holdings Corp.
- Seller: Interval Buyer, LLC
- Broker: Edward Schmidt - NAI Miami | Fort Lauderdale
The deal was facilitated by Edward Schmidt, who represents NAI Miami | Fort Lauderdale in this transaction. The involvement of Interval Buyer, LLC as the seller marks the transfer of ownership for the development site, crucial for the buyer's expansion plans in the healthcare sector.
On the Map
$5,970,000
Development Site
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Players
Miami Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.66%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93