Harbor Group International Acquires Multifamily Property In Doral For $100M
SOLD
$100,000,000
Florida
See Similar DealsMultiFamily233,552 SF
Sold 03/31/2020
SOLD
Harbor Group International Acquires Multifamily Property In Doral For $100M
3555 Northwest 83rd Avenue, Doral, FL 33122, USA
See Similar DealsMultiFamily233,552 SF
Sold 03/31/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$428
Total Square Footage:233,552 SF
Transaction Type:Sale
The multifamily property located at 3555 NW 83rd Ave in Doral has been sold for a price of $100,000,000. The property consists of 303 units, with an average price per unit of $330,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $100,000,000
- Address: 3555 NW 83rd Ave
- Market: Doral
- Units: 303
- Price Per Unit: $330,000
The buyer of this property is Harbor Group International, while the sellers include The Related Group, Shoma Group, and PGIM Real Estate Investors. The transaction was facilitated by Chris Conklin from Walker & Dunlop.
Players
SELLER
SELLER
SELLER
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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