Avanti Way Group & Office America Group Acquire Mixed-Use Property In Lake Worth Beach For $31.5M Loan
1715 Dixie Highway
$31,500,000
$252/SF
Building Size
125,000 SF
Asset Type
Mixed-use
Closing
May 3, 2023
About this deal
AI
A mixed-use property located at 1715 Dixie Highway in Lake Worth Beach has been involved in a recent transaction. The property spans 125,000 square feet and includes a variety of uses. The transaction involved a loan.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $31,500,000
- Address: 1715 Dixie Highway, Lake Worth Beach
- Market: Lake Worth Beach
The transaction was facilitated by Ricardo Hernandez, a representative from Office America Group, as well as Andres Korda and Enrique Teran from Avanti Way Group. They represented the landlords in the deal. The loan obtained for the transaction was a construction loan.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93