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
About this deal
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.
On the Map
$67,000,000
$38/SF
Mixed-use
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Players
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