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
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