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22749 Florida 7, Boca Raton...

Investments Limited Acquires Office And Retail Properties In Boca Raton, Deerfield Beach, And Plantation For $67M
FINANCEDMixed-use

Investments Limited Acquires Office And Retail Properties In Boca Raton, Deerfield Beach, And Plantation For $67M

22749 Florida 7, Boca Raton, FL, USA

$67,000,000

$38/SF

Building Size

1,735,468 SF

Asset Type

Mixed-use

Closing

May 4, 2020

AI

The property involved in the closed transaction is located at 22797 State Rd 7-22749 State Rd 7, 23123 South State Rd 7, 22973-23071 South State Rd 7, 130 Northwest 20th St, 600 South Dixie Highway, 515 Northeast 20th St, 601 Fairway Dr, 400-498 W Hillsboro Blvd, 1801-1825 West Hillsboro Blvd Deerfield Beach, 1831-1919 West Hillsboro Blvd, 1799 West Hillsboro Blvd, and 1-199 N State Rd 7. The asset type of the property is a mix of office and retail, with a total square footage of 1,735,468. The property is situated in Boca Raton, Deerfield Beach, and Plantation.

Summary of transaction details:

  • Property Type: Office, Retail
  • Transaction Amount: $67,000,000
  • Lender: Ocean Bank
  • Landlord: Investments Limited - James Batmasian
  • Brokers: Josias Dewey & Brett Holland - Holland & Knight

The key individuals and companies involved in the transaction include James Batmasian, who represents Investments Limited as the landlord, and Josias Dewey and Brett Holland from Holland & Knight, who serve as the brokers. They played essential roles in facilitating the deal.

Players

Josias Dewey

Broker

$67M

vol

1 deal

Broker
Ocean Bank
Ocean BankLender
James Batmasian

James Batmasian

Investments Limited

Landlord

$223.9M

vol

15 deals

Landlord

Boca Raton 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

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93