Ivanhoé Cambridge Acquires Multifamily Asset In Little Havana, Miami For $104.9M
SOLD
$104,900,000
Florida
See Similar DealsMultiFamily525,786 SF
Sold 11/23/2021
SOLD
Ivanhoé Cambridge Acquires Multifamily Asset In Little Havana, Miami For $104.9M
1900 Southwest 8th Street, Little Havana, Miami, FL, USA
See Similar DealsMultiFamily525,786 SF
Sold 11/23/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$199
Total Square Footage:525,786 SF
Transaction Type:Sale
An multifamily property located at 1900 Southwest Eighth Street in Little Havana, Miami has been sold for a total price of $104,900,000. The property spans a total area of 525,786 square feet, resulting in a price per square foot of $200.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $104,900,000
- Market: Little Havana, Miami
The buyer of this property is Ivanhoé Cambridge, while the seller is Greystar, represented by Bob Faith.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,594,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$372,687.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$497,279.52
Annual Debt Service$5,967,354.21
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