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10170 Southwest 7th Street,...

Air Communities Acquires Pembroke Pines Multifamily From Harbor Group International LLC For $222.7M
SOLDMultiFamily

Air Communities Acquires Pembroke Pines Multifamily From Harbor Group International LLC For $222.7M

10170 Southwest 7th Street, Miami, FL 33174, USA

$222,700,000

$403/SF

Building Size

552,359 SF

Asset Type

MultiFamily

Closing

Jun 21, 2020

AI

An multifamily property located at 10170 SW 7th St in Pembroke Pines was recently sold for $222,700,000. The property consists of 700 units, with an average price per unit of $318,143.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $222,700,000
  • Address: 10170 SW 7th St
  • Market: Pembroke Pines

Air Communities, represented by Terry Considine, purchased the property from Harbor Group International LLC, represented by Jordan E. Slone and Richard Litton.

Players

Terry Considine

Air Communities

Buyer

$1.5B

vol

6 deals

Buyer
Jordan Slone

Jordan Slone

Harbor Group International

Seller

$5.4B

vol

21 deals

Seller

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93