Adventurous Journeys Acquires Little River Portfolio In Miami For $79.9M
Little River, Miami, FL, USA
$79,900,000
Building Size
—
Asset Type
Industrial
Closing
Dec 8, 2021
AI
The Little River Portfolio, an industrial property spanning 24 acres, was recently sold in Little River, Miami. The sale took place on 12/08/2021 and was facilitated by Eric Hassberger and Matthew Vander Werff. Adventurous Journeys (AJ) Capital Partners, represented by Eric Hassberger, acquired the property from MVW Partners, represented by Matthew Vander Werff and Ashley Abess. The transaction was supported by the National Bank of Florida as the lender. The sale price for the Little River Portfolio amounted to $79,900,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $79,900,000
- Address: Little River Portfolio
- Market: Little River, Miami
- Buyer: Adventurous Journeys (AJ) Capital Partners - Eric Hassberger
- Seller: MVW Partners - Matthew Vander Werff & Ashley Abess
- Lender: National Bank of Florida
- Image: Eric Hassberger & Matthew Vander Werff
- Date: 12/08/2021
- Acres: 24
The acquisition of the Little River Portfolio by Adventurous Journeys (AJ) Capital Partners, led by Eric Hassberger, marks a significant transaction in the industrial real estate sector. The deal was facilitated by Matthew Vander Werff and Ashley Abess from MVW Partners. The National Bank of Florida played a crucial role as the lender. This successful transaction demonstrates the strong market demand for industrial properties in the Little River area of Miami.
Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93