Calta Group Acquires Development Site In Hollywood For $9.5M
SOLD
Florida
See Similar DealsDevelopment Site
Sold 04/27/2022
SOLD
Calta Group Acquires Development Site In Hollywood For $9.5M
2215 Hollywood Boulevard, Hollywood, Florida 33020, United States
See Similar DealsDevelopment Site
Sold 04/27/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 2215 Hollywood Boulevard in Hollywood has been sold for $9,500,000. The site spans approximately 1.6 acres and was previously owned by Hollywood Construction & Development LLC. The buyer, Calta Group, was represented by Ignazio Caltagirone, Gaetano Caltagirone, and Igor Blatnik.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,500,000
- Address: 2215 Hollywood Boulevard
- Market: Hollywood
- Asset Type: Development Site
- Acres: 1.6
This transaction was completed on April 27, 2022. Hollywood Construction & Development LLC, represented by Joseph Horn, sold the property to Calta Group. Calta Group, a reputable buyer in the industry, made the acquisition with the intention of utilizing the development site for future projects.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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