Skylight Real Estate Partners, Panther Capital, And Arden Group Acquire Edgewater Development Site For $20M
SOLD
$20,000,000
+ 1
Florida
See Similar DealsDevelopment Site
Sold 01/03/2022
SOLD
Skylight Real Estate Partners, Panther Capital, And Arden Group Acquire Edgewater Development Site For $20M
1836 Biscayne Boulevard
See Similar DealsDevelopment Site
Sold 01/03/2022
+ 1
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 1836 Biscayne Boulevard in Edgewater has been sold for a total of $20,000,000. The property was purchased by Skylight Real Estate Partners, Panther Capital Management, and Arden Group from Fifteen Group. This development site in Edgewater offers great potential for future construction and is a valuable asset in the market. With 364 units, the price per unit for this transaction stands at $54,945.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 1836 Biscayne Boulevard
- Market: Edgewater
Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota from Berkadia represented both the buyer and the seller in this transaction. Their expertise and negotiation skills played a crucial role in closing this deal successfully. This collaboration between Skylight Real Estate Partners, Panther Capital Management, Arden Group, and Berkadia highlights the strong relationships and teamwork within the real estate industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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