Abacus Capital Group Acquires Miramar Multifamily For $124M From Seller Global Securitization Services
11571 Canal Street, Miramar, FL, USA
$124,000,000
$1,200/SF
Building Size
103,275 SF
Asset Type
MultiFamily
Closing
Dec 13, 2020
AI
The multifamily property located at 11571 Canal Street & 11750 Canal Street in Miramar has been sold in a recent transaction. The sale was finalized on 12/14/2020, and the property was acquired by Abacus Capital Group, represented by Ben Friedman. The seller, Global Securitization Services, was represented by Kevin Burns.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $124,000,000
- Address: 11571 Canal Street & 11750 Canal Street, Miramar
- Market: Miramar
The transaction involved a total of 184 units, with a per unit price of $673,913.
Ben Friedman, from Abacus Capital Group, played a key role as the buyer in this deal. On the sell side, Kevin Burns represented Global Securitization Services. The transaction marked a significant milestone in the property's history and showcased the involvement of these industry professionals.
Miramar MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93