Spira Equity Partners Acquires Homestead Multifamily For $25.2M
701 Southwest 12th Street, Homestead, FL 33034
$25,200,000
$91/SF
Building Size
275,680 SF
Asset Type
MultiFamily
Closing
May 28, 2020
AI
Hunt Cos., represented by Woody Hunt and James Hunt, sold a multifamily property located at 701 SW 12th St in Homestead. The property was purchased by Spira Equity Partners, with Stephen Ho and Robert Lee acting as representatives. The sale took place on May 28, 2021, for a total price of $25,200,000. The property consists of 168 units, with a price per unit of $150,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,200,000
- Address: 701 SW 12th St, Homestead
- Market: Homestead
- Buyer: Spira Equity Partners - Stephen Ho & Robert Lee
- Seller: Hunt Cos. - Woody Hunt & James Hunt
- Units: 168
- Price Per Unit: $150,000
The sale involved key individuals and companies such as Spira Equity Partners represented by Stephen Ho and Robert Lee, and Hunt Cos. represented by Woody Hunt and James Hunt. This transaction represents a significant investment in the Homestead multifamily market.
Players
Homestead 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93