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180 Northeast 29th Street, ...

AMLI Residential Acquires Multifamily Property In Miami For $104.2M
SOLDMultiFamily

AMLI Residential Acquires Multifamily Property In Miami For $104.2M

180 Northeast 29th Street, Miami, Florida 33137, United States

$104,200,000

Building Size

Asset Type

MultiFamily

Closing

Feb 22, 2022

AI

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

Greg Mutz

AMLI Residential

Buyer

$283.2M

vol

7 deals

Buyer
Mesirow Financial
Mesirow FinancialSeller
Mesirow Financial
Mesirow FinancialLender

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

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93