Updated Oct 29, 2024
Integra Investments, Korgeous Group, And DCL Capital Acquire Development Site On Biscayne Boulevard For $15.5M
11295 Biscayne Blvd, Miami, FL 33181, USA
$15,500,000
$43/SF
Building Size
360,465 SF
Asset Type
Development Site
Closing
Jul 16, 2020
About this deal
AI
Integra Investments, Korgeous Group, and DCL Capital have jointly acquired a development site located at 11295 Biscayne Boulevard for a total price of $15,500,000. The property spans a total square footage of 360,465, resulting in a price per square foot of $43. The seller of the site was Jockey Segal LLC, represented by Paula Douer.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,500,000
- Address: 11295 Biscayne Boulevard
- Buyer: Integra Investments - Paulo Tavares de Melo, Korgeous Group - Andrew Korge, DCL Capital - David Larson
- Seller: Jockey Segal LLC - Paula Douer
- Square Footage: 360,465
- Price per Square Foot: $43
The buyer consortium consists of Integra Investments, represented by Paulo Tavares de Melo, Korgeous Group, represented by Andrew Korge, and DCL Capital, represented by David Larson. This acquisition marks an important development for these companies in the real estate market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93