Harbor Group International Acquires Multifamily Property In Brickell, Miami For $184.5M
SOLD
$184,500,000
Florida
See Similar DealsMultiFamily
Sold 07/21/2022
SOLD
Harbor Group International Acquires Multifamily Property In Brickell, Miami For $184.5M
255 Southwest 11th Street, Miami, Florida 33135, United States
See Similar DealsMultiFamily
Sold 07/21/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 255 SW 11th St in Brickell, Miami, was recently sold in a closed transaction. The sale took place on July 21, 2022, and the property was acquired by Harbor Group International, LLC for a purchase price of $184,500,000. The property consists of 372 units, resulting in a per-unit price of approximately $495,968.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $184,500,000
- Units: 372
- Price Per Unit: $495,968
Richard Litton represented Harbor Group International, LLC as the buyer's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,840,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$655,489.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$874,624.13
Annual Debt Service$10,495,489.53
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