Angelo Gordon & CBRE Acquire Industrial Assets In Port St. Lucie & Riviera Beach For $20.05M
$20,050,000
SOLD
$20,050,000
Florida
See Similar DealsIndustrial217,590 SF
Sold 06/03/2020
$20,050,000
SOLD
Angelo Gordon & CBRE Acquire Industrial Assets In Port St. Lucie & Riviera Beach For $20.05M
400 Northwest Enterprise Drive, Port St. Lucie, FL, USA
See Similar DealsIndustrial217,590 SF
Sold 06/03/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$92
Total Square Footage:217,590 SF
Transaction Type:Sale
The industrial asset located at 400 Enterprise Drive, 8620 LTC Parkway & 7555 Garden Road spans a total of 217,590 square feet. It is situated in the markets of Port St. Lucie and Riviera Beach, with a transaction value of $20,050,000, amounting to approximately $92 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,050,000
- Address: 400 Enterprise Drive, 8620 LTC Parkway & 7555 Garden Road
- Market: Port St. Lucie & Riviera Beach
- Square Footage: 217,590
- Price Per Square Foot: $92
- Buyer: Angelo, Gordon & Co.- Angelo Gordon & Redfearn Capital - Alex Redfearn
- brokers: Robert Smith & Kirk Nelson - CBRE; Kapp Morrison LLP
The transaction involved notable representatives, including Alex Redfearn representing Angelo Gordon & Co. and Redfearn Capital, while Robert Smith and Kirk Nelson acted on behalf of CBRE. Kapp Morrison LLP is also recorded in connection with the transaction, highlighting the collaborative efforts in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,069,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,233.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,047.23
Annual Debt Service$1,140,566.75
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