AMLI Residential Acquires Multifamily Property In Miami For $104.2M
SOLD
$104,200,000
Florida
See Similar DealsMultiFamily
Sold 02/23/2022
SOLD
AMLI Residential Acquires Multifamily Property In Miami For $104.2M
180 Northeast 29th Street, Miami, Florida 33137, United States
See Similar DealsMultiFamily
Sold 02/23/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 180 Northeast 29th Street in Miami was recently sold for a total sale price of $104,200,000. The transaction took place on 02/23/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $104,200,000
- Market: Miami
- Asset Type: Multifamily
- Acres: 1.7
The buyer in this transaction was AMLI Residential, represented by Gregory Mutz. The seller was Mesirow Financial & Morgan Group. The property consists of 309 units, with a price per unit of $337,217.
Players
SELLER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,557,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$370,200.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$493,961.16
Annual Debt Service$5,927,533.92
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