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701 Southwest 12th Street, ...

Updated Oct 28, 2024

Spira Equity Partners Acquires Homestead Multifamily For $25.2M
SOLDMultiFamily

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

About this deal

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.

On the Map

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$25,200,000

$91/SF

MultiFamily

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Players

Stephen Ho

Spira Equity Partners

Buyer

$167.7M

vol

4 deals

Buyer
HC
Hunt Cos.Seller
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Homestead MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $91 per square foot on a published $25.2M for 275,680 square feet (2020).

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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

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