AEW Capital Management Acquires Multifamily Property In Miami & West Palm Beach For $123M
Southwest 136th Street, Miami, FL, USA
$123,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 13, 2021
AI
The recent sale involved a multifamily property located at 15300-15380 SW 136th Street & 7065 Banyan Leaf Drive in Miami and West Palm Beach. The transaction took place on 10/13/2021, with a sale price of $123,000,000. The property consists of 492 units, resulting in a per unit price of $250,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $123,000,000
- Units: 492
- Price Per Unit: $250,000
- Market: Miami & West Palm Beach
The buyer in this transaction was AEW Capital Management, represented by Jeff Furber. The seller was AHS Residential, represented by Ernesto Lopes.
Players
Miami 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