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Secured Equities Corporation Acquires Mixed-Use Property In Naples For $25.5M

Property Image
SOLD
$25,500,000
Kim Flores
Eric Williams
+ 2

Florida

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Mixed-use71,640 SF
Sold 11/16/2021
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Property Image
SOLD

Secured Equities Corporation Acquires Mixed-Use Property In Naples For $25.5M

1427 Pine Ridge Road, Naples, FL, USA

See Similar Deals
Mixed-use71,640 SF
Sold 11/16/2021
Kim Flores
Eric Williams
+ 2
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$355
Total Square Footage:71,640 SF
Transaction Type:Sale

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

Danny Finkle
57 deals$3.9B volume
BROKER

Eric Williams
Newmark
52 deals$2.8B volume
BROKER

Kim Flores
JLL
35 deals$3.2B volume
BROKER

Cameron Beck
JLL
15 deals$929.3M volume
BROKER


2 deals$42M volume
BUYER

SELLER

Details

SOLD
IMAGE: Kim Flores, Danny Finkle, Eric Williams & Cameron Beck DATE: 11/16/2021 ADDRESS: 1427 Pine Ridge Road MARKET: Naples ASSET TYPE: Mixed-use BUYER: Secured Equities Corporation - Fiorenzo Bresolin SELLER: Courtelis Company & Barron Collier Companies BROKERS: Danny Finkle, Eric Williams, Kim Flores & Cameron Beck - JLL SALE PRICE: $25,500,000 SF: 71,640 ~ PPSF: $356

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,360,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11