Westdale Asset Management Acquires Multifamily Property In Palmetto Bay For $58.2M
18301 South Dixie Highway, Miami, FL, USA
$58,248,777
$50,872/SF
Building Size
1,145 SF
Asset Type
MultiFamily
Closing
Jul 12, 2020
AI
The multifamily property located at 18301 S Dixie Hwy in the Palmetto Bay market was sold for $58,248,777. The asset consists of 213 units with a per unit price of $273,468.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $58,248,777
- Buyer: Westdale Asset Management, Ltd
- Seller: The Estate Companies
- Brokers: Neyda Bravo & - Bravo & Partners Realty
- Units: 213
- Price Per Unit: $273,468
Neyda Bravo, representing Bravo & Partners Realty, facilitated the transaction between Westdale Asset Management, Ltd and The Estate Companies. This comprehensive deal highlights the involvement of key players in the multifamily property sector.
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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93