Dermot Co. Acquires Multifamily Property In Doral For $160M
SOLD
$160,000,000
Florida
See Similar DealsMultiFamily194,278 SF
Sold 09/30/2021
SOLD
Dermot Co. Acquires Multifamily Property In Doral For $160M
8111 Northwest 53rd Street, Doral, FL, USA
See Similar DealsMultiFamily194,278 SF
Sold 09/30/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$823
Total Square Footage:194,278 SF
Transaction Type:Sale
Dermot Co., a real estate investment company, has acquired a multifamily property in Doral, Florida. The property, located at 8100 & 8111 NW 53rd St, spans across 4.46 acres in the vibrant market of Doral. The transaction was completed on September 30, 2021, for a total sale price of $160,000,000.
Summary of transaction details
- Asset Type: Multifamily
- Address: 8100 & 8111 NW 53rd St, Doral
- Market: Doral
- Sale Price: $160,000,000
- Units: 454
- Price per unit: $352,423
The buyer in this transaction is Dermot Co., represented by Stephen Benjamin. On the other hand, the seller is Doral K1 Phase LLC & Doral K2 Phase LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$568,446.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$758,481.63
Annual Debt Service$9,101,779.54
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