Updated Oct 29, 2024
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
About this deal
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.
On the Map
$15,000,000
Development Site
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Miami Development Site Market Snapshot
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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