Secured Equities Corporation Acquires Mixed-Use Property In Naples For $25.5M
1427 Pine Ridge Road, Naples, FL, USA
$25,500,000
$355/SF
Building Size
71,640 SF
Asset Type
Mixed-use
Closing
Nov 16, 2021
AI
1427 Pine Ridge Road in Naples has been sold for $25,500,000 in a recent transaction. This property is a mixed-use asset with a total area of 71,640 square feet, resulting in a price per square foot of $356. The sale was facilitated by brokers Danny Finkle, Eric Williams, Kim Flores, and Cameron Beck from JLL. The buyer, Secured Equities Corporation, was represented by Fiorenzo Bresolin. The sellers were Courtelis Company and Barron Collier Companies.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $25,500,000
- Square Footage: 71,640
- Price per Square Foot: $356
- Address: 1427 Pine Ridge Road, Naples
- Market: Naples
- Buyer: Secured Equities Corporation - Fiorenzo Bresolin
- Seller: Courtelis Company & Barron Collier Companies
- Brokers: Danny Finkle, Eric Williams, Kim Flores, and Cameron Beck - JLL
This successful transaction showcases the expertise and dedication of the brokers involved. Danny Finkle, Eric Williams, Kim Flores, and Cameron Beck from JLL played a crucial role in facilitating the sale of 1427 Pine Ridge Road. Their collective efforts resulted in securing a price of $25,500,000 for this mixed-use property, which spans an impressive 71,640 square feet in the desirable market of Naples.
Players
Naples Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93