Dalfen Industrial Acquires Industrial Asset In West Palm Beach For $60.6M
SOLD
$60,600,000
+ 2
Florida
See Similar DealsIndustrial317,499 SF
Sold 09/21/2021
SOLD
Dalfen Industrial Acquires Industrial Asset In West Palm Beach For $60.6M
1617 Meathe Drive, West Palm Beach, FL 33411
See Similar DealsIndustrial317,499 SF
Sold 09/21/2021
+ 2
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$190
Total Square Footage:317,499 SF
Transaction Type:Sale
Located in West Palm Beach, the industrial property at 1617 Meathe Dr has been sold in a closed transaction. The property spans a total area of 317,499 square feet. The buyer of the property is Dalfen Industrial, while the seller is Jeff Greene. The transaction was facilitated by Luis Castillo, John Huguenard, Cody Brais, and Sky Groden from JLL. The sale price for the property was $60,600,000, resulting in a price per square foot of $191.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $60,600,000
- Address: 1617 Meathe Dr
- Market: West Palm Beach
The involvement of Dalfen Industrial as the buyer and Jeff Greene as the seller highlights the significant roles played by these individuals in the transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,232,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$215,298.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$287,274.92
Annual Debt Service$3,447,299.00
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