The Milestone Group Acquires Multifamily Property In Miami For $107M
SOLD
$107,000,000
Florida
See Similar DealsMultiFamily1,329 SF
Sold 08/26/2021
SOLD
The Milestone Group Acquires Multifamily Property In Miami For $107M
12325 Southwest 151st Street, Miami, FL 33186, USA
See Similar DealsMultiFamily1,329 SF
Sold 08/26/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$80,511
Total Square Footage:1,329 SF
Transaction Type:Sale
The multifamily property located at 12325 Southwest 151st Street in Miami has been sold in a closed transaction. The sale took place on August 26, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $107,000,000
- Number of units: 505
- Price per Unit: $211,881
- Market: Miami
The buyer of the property is The Milestone Group, represented by Jeffrey Goldberg and Robert Landin. On the other hand, the seller is Grand Peaks Properties, represented by Luke and Nick Simpson.
With the purchase price of $107,000,000, this multifamily property comprises 505 units, with each unit estimated to have a price per unit of $211,881. The transaction took place in Miami.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$380,148.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$507,234.59
Annual Debt Service$6,086,815.07
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