Oxford Properties Group Acquires Industrial Property In Boynton Beach For $15.5M
SOLD
$15,500,000
Florida
See Similar DealsIndustrial83,378 SF
Sold 10/01/2021
SOLD
Oxford Properties Group Acquires Industrial Property In Boynton Beach For $15.5M
6600 High Ridge Road
See Similar DealsIndustrial83,378 SF
Sold 10/01/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$185
Total Square Footage:83,378 SF
Transaction Type:Sale
6600 & 7700 High Ridge Road in Boynton Beach has been sold in a recent transaction. The property, classified as an industrial asset, spans across 83,378 square feet. The sale took place on October 1, 2021, with a sale price of $15,500,000. This equates to a price per square foot of $186.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,500,000
- Buyer: Oxford Properties Group - Michael Turner
- Seller: KKR - Henry Kravis
- Address: 6600 & 7700 High Ridge Road
- Market: Boynton Beach
Oxford Properties Group, represented by Michael Turner, acquired the property from KKR, represented by Henry Kravis. The transaction showcases the involvement of key individuals and companies in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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