Geneva Group Acquires Mixed-Use Property In Casselberry From Westgate Resorts For $4M
384 Wilshire Blvd Casselberry, FL 32707, USA
$4,000,000
$56/SF
Building Size
70,841 SF
Asset Type
Mixed-use
Closing
Jun 26, 2023
About this deal
AI
David Siegel's Westgate Resorts has sold a 70,841-square-foot office and retail building located at 384 Wilshire Boulevard in Casselberry. The mixed-use property was purchased by Geneva Group for a total sale price of $4,000,000, resulting in a price per square foot of $56.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,000,000
- Square Footage: 70,841
- Address: 384 Wilshire Boulevard, Casselberry
- Market: Casselberry
This sale is part of David Siegel's strategic plan to divest properties and focus on timeshare resources. Amidst a thriving real estate market, Siegel's Westgate Resorts decided to sell the office and retail building in Casselberry, aligning with their future business objectives. This transaction involved Westgate Resorts as the seller and Geneva Group as the buyer.
On the Map
$4,000,000
$56/SF
Mixed-use
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Miami 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93