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Hialeah, FL, USA

Updated Oct 28, 2024

Barry Sternlicht's Starwood Realty Trust Acquires 45 Single Family Homes & Townhouses In Hialeah & Pembroke Pines For $18.4M
SOLDIndustrial

Barry Sternlicht's Starwood Realty Trust Acquires 45 Single Family Homes & Townhouses In Hialeah & Pembroke Pines For $18.4M

Hialeah, FL, USA

$18,410,000

$52/SF

Building Size

350,000 SF

Asset Type

Industrial

Closing

Nov 15, 2021

About this deal

AI

Barry Sternlicht's Starwood Realty Trust and Tiber Capital Group, represented by Simon Frost and Alex Rodriguez, have purchased a portfolio of 45 single-family homes and townhouses in Hialeah and Pembroke Pines, South Florida. The properties were sold by Transcendent Investment Management. The sale price for this transaction was $18,410,000.

Summary of transaction details

  • Property Type: 45 Single Family Homes & Townhouses
  • Transaction Amount: $18,410,000
  • Buyer: Barry Sternlicht - Starwood Realty Trust; Tiber Capital Group - Simon Frost & Alex Rodriguez
  • Seller: Transcendent Investment Management
  • Market: Hialeah & Pembroke Pines, South Florida
  • Date: 11/15/2021

This acquisition was made possible by the active involvement of Barry Sternlicht, leading the Starwood Realty Trust, and Simon Frost and Alex Rodriguez from Tiber Capital Group. They successfully negotiated the purchase of the portfolio from Transcendent Investment Management, facilitating this significant real estate transaction.

Players

TM
Transcendent Investment ManagementSeller

Hialeah Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $52 per square foot on a published $18.4M for 350,000 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.86%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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