The Connor Group Acquires Miramar Multifamily For $138M From Bell Partners
SOLD
$138,000,000
Florida
See Similar DealsMultiFamily
Sold 09/12/2022
SOLD
The Connor Group Acquires Miramar Multifamily For $138M From Bell Partners
11900 Southwest 31st Court, Miramar, Florida 33025, United States
See Similar DealsMultiFamily
Sold 09/12/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 11900 Southwest 31st Court & 3040 Southwest 119th Avenue in Miramar has been sold in a closed transaction. The property spans over 28 acres and is composed of 371 units. The sale price for this transaction was $138,000,000, resulting in a per unit price of $371,968.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $138,000,000
- Address: 11900 Southwest 31st Court & 3040 Southwest 119th Avenue, Miramar
- Market: Miramar
The buyer in this transaction is The Connor Group, represented by Larry Connor. The seller of the property is Bell Partners, represented by Jon Bell & Lili Dunn.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,360,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$490,284.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$654,190.40
Annual Debt Service$7,850,284.85
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