Updated Oct 29, 2024
ZOM Senior Living Acquires Development Site In Coral Gables For $20M
300 Greco Ave, Coral Gables, FL 33146, USA
$20,000,000
$250/SF
Building Size
80,000 SF
Asset Type
Development Site
Closing
Jul 5, 2020
About this deal
AI
A development site located at 300 Greco Avenue, 401 Datura Street in Coral Gables and West Palm Beach has been sold for a price of $20,000,000. The property spans 80,000 square feet, resulting in a price per square foot of $250. It consists of 350 units, with an average price per unit of $57,142.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $20,000,000
- Address: 300 Greco Avenue, 401 Datura Street
- Market: Coral Gables, West Palm Beach
- Seller: LG Ponce III LLC (Lion Gables Realty Limited Trust)
ZOM Senior Living, represented by Greg West and Watermark Retirement Communities, acquired the property. They brokered the deal with the seller, LG Ponce III LLC.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93