AEW Capital Management Acquires Multifamily Property In Miami & West Palm Beach For $123M
SOLD
$123,000,000
Florida
See Similar DealsMultiFamily
Sold 10/13/2021
SOLD
AEW Capital Management Acquires Multifamily Property In Miami & West Palm Beach For $123M
Southwest 136th Street, Miami, FL, USA
See Similar DealsMultiFamily
Sold 10/13/2021
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$436,993.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$583,082.75
Annual Debt Service$6,996,993.02
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