Updated Nov 28, 2024
AEW Capital Management Acquires Multifamily Property In Miami & West Palm Beach For $123M
Southwest 136th Street, Miami, FL, USA
$123,000,000
Units
491
Asset Type
MultiFamily
Closing
Oct 13, 2021
About this deal
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.
On the Map
$123,000,000
MultiFamily
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Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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