GID Real Estate Investments Acquires Multifamily Asset In Doral For $149.8M
SOLD
$149,830,000
Florida
See Similar DealsMultiFamily
Sold 03/30/2022
SOLD
GID Real Estate Investments Acquires Multifamily Asset In Doral For $149.8M
8425 Northwest 41st Street, Doral, Florida 33166, United States
See Similar DealsMultiFamily
Sold 03/30/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Located at 8425 NW 41st St in the vibrant market of Doral, this multifamily property has recently changed hands in a closed transaction. The property, consisting of 385 units, offers a desirable and lucrative investment opportunity in the thriving real estate market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $149,830,000
- Address: 8425 NW 41st St, Doral
- Market: Doral
GID Real Estate Investments, represented by Gregory Bates and W. Gardner Wallace, acquired the property from Greystar, with Bob Faith acting as their representative. This significant transaction underscores the confidence and belief in the potential of this multifamily asset in Doral's real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,990,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,314.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$710,270.64
Annual Debt Service$8,523,247.68
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