Updated Mar 11, 2025
Trion Properties Acquires Multifamily Property In Miami For $87.3M
8855 Fontainebleau Boulevard, Miami, Florida 33172, United States
$87,250,000
$377/SF
Building Size
231,348 SF
Asset Type
MultiFamily
Closing
May 26, 2022
About this deal
AI
The multifamily property located at 8855 Fontainebleau Blvd in Miami has been sold for a price of $87,250,000. The property comprises 294 units with an average price per unit of $296,769. The total square footage of the property is 231,348, and the price per square foot is $377.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $87,250,000
- Units: 294
- Price Per Unit: $296,769
- Square Footage: 231,348
- Price Per Square Foot: $377
The transaction involved Trion Properties, represented by Max Sharkansky, Mitch Paskover, Marley Dominguez, and Adrie Bailey, as the buyers. The seller was Grand Peaks. Maurice Habif, Simon Banke, and Ted Turner, from JLL, acted as brokers in the deal. Jesse Wright, also from JLL, served as the mortgage broker.
On the Map
$87,250,000
$377/SF
MultiFamily
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Players
Miami 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93