Updated Nov 28, 2024
Grand Peaks Properties Acquires Miami Multifamily For $63M With AEW Capital Management As Seller
10605 Hammocks Boulevard, Miami, FL, USA
$63,000,000
$227/SF
Building Size
276,816 SF
Asset Type
MultiFamily
Closing
Mar 14, 2021
About this deal
AI
The multifamily property located at 10605 Hammocks Boulevard in Miami has been sold in a recent transaction. The transaction took place on March 15, 2021, and the property was purchased by Grand Peaks Properties, represented by Luke Simpson. The seller of the property was AEW Capital Management, represented by Jeff Furber.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $63,000,000
- Square Footage: 276,816 square feet
- Price per Square Foot: $228
- Number of Units: 264
- Price per Unit: $238,636
- Acres: 9.6
- Price per Acre: $6,562,500
Luke Simpson of Grand Peaks Properties and Jeff Furber of AEW Capital Management played crucial roles in the deal. Luke Simpson represented the buyer, Grand Peaks Properties, while Jeff Furber represented the seller, AEW Capital Management.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Jeff Furber to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93