Alta Development Acquires Property From Progesti Corporation For $15 Million With Colliers International Representation
180 SW 9th St, Miami, FL, 33130
$15,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 26, 2022
AI
The property involved in the transaction is located at 180 SW 9th St, Miami, FL, 33130. The sale was executed at a price of $15,000,000.00 and encompasses 0 square feet. This transaction falls within the Miami market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $15,000,000.00
- Buyer: Alta Development
- Seller: Progesti Corporation
- Buyer’s Representative: Julian Zuniga-Colliers International
- Seller’s Representative: Gerard Yetming-Colliers International
This transaction highlights the involvement of two professional representatives from Colliers International, ensuring a comprehensive negotiation process. Julian Zuniga represented the buyer Alta Development, while Gerard Yetming represented the seller Progesti Corporation, facilitating a seamless and effective sale in the Miami area.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93