Harbor Group International Acquires Miami Multifamily For $450M
SOLD
$450,000,000
+ 2
Florida
See Similar DealsMultiFamily
Sold 03/16/2022
SOLD
Harbor Group International Acquires Miami Multifamily For $450M
100 Northwest 6th Street, Miami, Florida 33125, United States
See Similar DealsMultiFamily
Sold 03/16/2022
+ 2
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 100 NW 6th St in Miami was recently sold in a closed transaction. The property consists of 816 units and was sold for approximately $450,000,000, with a per unit price of $551,471.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $450,000,000 (Approx.)
- Address: 100 NW 6th St
- Market: Miami
The buyer of the property was Harbor Group International, represented by Jordan Slone, Yisroel Berg, and Richard Litton. The seller was Florida East Coast Industries. The deal was facilitated by brokers Robert Given and Troy Ballard from Cushman & Wakefield.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$24,000,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,598,754.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,133,229.58
Annual Debt Service$25,598,754.95
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