Updated Dec 21, 2023
D. R. Horton Acquires Homestead Development Site For $12.5M
SW 336th St, Homestead, FL, USA
$12,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 15, 2020
About this deal
AI
D. R. Horton has purchased a development site in Homestead, located at Southwest 336th Street and Southeast Eighth Avenue. The property was sold by Newport Development Partners, represented by Alex Meruelo. The transaction took place on July 16, 2020, and the sale price for the development site was $12,500,000.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $12,500,000
- Address: Southwest 336th Street, Southeast Eighth Avenue, Homestead
- Market: Homestead
Leading the deal, D. R. Horton acquired the development site from Newport Development Partners, with Alex Meruelo representing the seller. The transaction demonstrates the potential for growth and development in Homestead.
Players
Homestead Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93