Alta Development Acquires Property From Progesti Corporation For $15 Million With Colliers International Representation
SOLD
$15,000,000
Florida
See Similar DealsDevelopment Site
Sold 10/26/2022
SOLD
Alta Development Acquires Property From Progesti Corporation For $15 Million With Colliers International Representation
180 SW 9th St, Miami, FL, 33130
See Similar DealsDevelopment Site
Sold 10/26/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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