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202 Northeast 18th Avenue, ...

Kolter Group Acquires Homestead Development Site For $17.2M
SOLDDevelopment Site

Kolter Group Acquires Homestead Development Site For $17.2M

202 Northeast 18th Avenue, Homestead, FL 33033

$17,200,000

Building Size

Asset Type

Development Site

Closing

Dec 30, 2021

AI

The development site located at 202 Northeast 18th Avenue in Homestead has been sold in a recent transaction. Spanning over 41 acres, this property offers significant potential for development. The transaction took place on December 30, 2021, and the sale price was recorded at $17,200,000. Bobby Julien captured an image of the property which was shared on Instagram.

Summary of transaction details

  • Property Type: Development Site
  • Sale Price: $17,200,000
  • Address: 202 Northeast 18th Avenue
  • Market: Homestead
  • Image: Bobby Julien (posted on Instagram)
  • Date: 12/30/2021
  • Buyer: Kolter Group - Bobby Julien
  • Seller: South Wind Apartments - Lewis Swezy
  • Acres: 41

In this transaction, Kolter Group, represented by Bobby Julien, acquired the property from South Wind Apartments, represented by Lewis Swezy. Both parties played a key role in the successful completion of the deal.

Players

Lewis Swezy

Centennial Management

Broker

$129.1M

vol

7 deals

Broker
Bobby Julien

Bobby Julien

Kolter Group

Buyer

$664.1M

vol

10 deals

Buyer
Lewis Swezy

Lewis Swezy

Seller

$129.1M

vol

7 deals

Seller

Homestead 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

0.92%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93