Updated Oct 28, 2024
Iconic Equities And Leste Group Acquire Industrial Property In Coral Springs For $9.5M
12101 Northwest 42nd Street, Coral Springs, Florida 33065, United States
$9,500,000
Building Size
—
Asset Type
Industrial
Closing
May 8, 2022
About this deal
AI
Iconic Equities and Leste Group have acquired an industrial property located at 12101 NW 42nd St in Coral Springs. The property, spanning 4.89 acres, was sold by Sylvia Garnett. The transaction was facilitated by Sky Gorden and Yuri Quispe from JLL. The sale price for the property was $9,500,000, resulting in a price per acre of $1,942,740.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $9,500,000
- Address: 12101 NW 42nd St, Coral Springs
- Market: Coral Springs
This acquisition is part of a larger $300 million programmatic Industrial Outdoor Storage (IOS) venture between Iconic Equities, Leste Group, and a large real estate private equity fund.
On the Map
$9,500,000
Industrial
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Players
Coral Springs Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93