Ares Management Acquires Industrial Property In Hialeah, Miami For $111.1M
SOLD
$111,100,000
Florida
See Similar DealsIndustrial
Sold 04/01/2023
SOLD
Ares Management Acquires Industrial Property In Hialeah, Miami For $111.1M
4010 West 104th Street, Hialeah, Florida 33018, United States
See Similar DealsIndustrial
Sold 04/01/2023
Summary
FLORIDA
Asset Type:Industrial
Transaction Type:Sale
The industrial property located at 4010 W 104th Street in Hialeah, Miami has been sold. The property spans across 51 acres and is part of the industrial market. The sale took place on January 4, 2023.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $111,100,000
- Address: 4010 W 104th Street, Hialeah, Miami
- Market: Hialeah, Miami
- Acres: 51
The buyer of the property is Ares Management, represented by Michael Arougheti from Ares Management. The seller of the property is Florida East Coast Industries, represented by Henry Flagler.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,925,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$394,714.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$526,670.68
Annual Debt Service$6,320,048.17
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