Hollywood Circle Mixed-Use Property Sold On Polk St For $125M
1780 Polk St, Hollywood, FL, USA
$125,000,000
$2,314/SF
Building Size
54,000 SF
Asset Type
Mixed-use
Closing
Jun 23, 2019
About this deal
AI
The mixed-use property located at 1780 Polk St in Hollywood Circle was sold on June 24, 2019. The transaction was facilitated by brokers Jay Miller, Michael Horowitz, and Richard Horowitz. The property is a 111-room hotel with a total of 386 units, spanning 54,000 square feet.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $125,000,000
- Address: 1780 Polk St
- Market: Hollywood Circle
The lender involved in the deal was Apollo Bank, while the landlord was Hollywood Circle, LLC. The brokers representing the parties were Jay Miller, Michael Horowitz, and Richard Horowitz. The transaction involved a loan amount of $125,000,000.
Players
Hollywood 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93