Updated Oct 29, 2024
LCOR & Madison International Realty Acquire Multifamily Property In Aventura For $50.4M
17900 Northeast 31st Court, Aventura, FL, USA
$50,400,000
$518/SF
Building Size
97,261 SF
Asset Type
MultiFamily
Closing
Jan 11, 2021
About this deal
AI
The multifamily property located at 17900 Northeast 31st Court in Aventura has recently undergone a closed transaction. This property features a total of 285 units, making it a significant asset in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,400,000
- Lender: JLL Real Estate Capital LLC/Freddie Mac Optigo
- Landlord: LCOR & Madison International Realty
- Brokers: Elliott Throne & Steven Klein - JLL
Elliott Throne and Steven Klein from JLL played a crucial role in representing the parties involved in this deal. Their expertise and negotiation skills contributed to the successful completion of the transaction.
Players
North Miami Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93