Updated Dec 4, 2024
Cade Capital Acquires 0.8-Acre Development Site In Coral Gables For $11.5M
130 Almeria Avenue, 152 Almeria Avenue, 160 Almeria Avenue & 103 Almeria Avenue
$11,500,000
Building Size
—
Asset Type
Development Site
Closing
Oct 2, 2023
About this deal
AI
Cade Capital has acquired a 0.8-acre development site in Coral Gables for $11.5 million. The property, located at 130, 152, 160, and 103 Almeria Avenue, is intended for a 13-story, 122-apartment commercial high-rise project, pending city approval. The site also includes a nearby parking lot at 103 Almeria Avenue.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Address: 130, 152, 160 & 103 Almeria Avenue
- Market: Coral Gables
- Buyer: Cade Capital - John Marquez, Juan Moroso Marquez, Jose Vizcarrondo & Alfredo Vargas Marquez
- Seller: Ubica - Alejandro Salazar; Maven Real Estate - Marc Schwarzberg
The buyer, Cade Capital, led by John Marquez, Juan Moroso Marquez, Jose Vizcarrondo, and Alfredo Vargas Marquez, successfully completed the acquisition. On the seller side, Ubica, represented by Alejandro Salazar, and Maven Real Estate, represented by Marc Schwarzberg, facilitated the transaction.
Players
Coral Gables Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93