Rick A. Matthews & Michael A. Tortorici Acquire Hollywood, FL Warehouse For $170.1M
SOLD
$170,100,000
Florida
See Similar DealsIndustrial408,379 SF
Sold 04/29/2022
SOLD
Rick A. Matthews & Michael A. Tortorici Acquire Hollywood, FL Warehouse For $170.1M
Flamingo Rd, Hollywood, Florida 33027, United States
See Similar DealsIndustrial408,379 SF
Sold 04/29/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$416
Total Square Footage:408,379 SF
Transaction Type:Sale
A warehouse located at 3633 Flamingo Rd in Hollywood, FL was recently sold in a transaction on April 29, 2022. The property spans 408,379 square feet and was sold for a total price of $170,100,000, equating to a price per square foot of $416.
Summary of transation details
- Property Type: Warehouse
- Transaction Amount: $170,100,000
- Address: 3633 Flamingo Rd, Hollywood, FL
- Market: Hollywood, FL
- Buyer: Rick A. Matthews & Michael A. Tortorici
- Seller: Luke Petherbrigde & Nicholas Pell
Rick A. Matthews and Michael A. Tortorici were the buyers in this transaction, while Luke Petherbrigde and Nicholas Pell were the sellers. The deal signifies the successful transfer of ownership for the warehouse property located at 3633 Flamingo Rd in Hollywood, FL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,072,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$604,329.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$806,360.78
Annual Debt Service$9,676,329.37
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