D1 Capital Partners Leases Miami Office Space At 2850 Tigertail From Related Group
2850 Tigertail Avenue, Miami, FL 33133
Building Size
25,000 SF
Asset Type
Office
Closing
Jun 5, 2020
AI
Located at 2850 Tigertail in Miami, this office property was recently leased in a transaction that involved D1 Capital Partners and the Related Group. The tenant, represented by Tal & Oren Alexander of Douglas Elliman, is D1 Capital Partners, with Dan Sundheim as the individual associated with the lease. On the other side of the deal, the landlord, Related Group, was represented by Andrew Trench of Cushman & Wakefield. The terms of the lease are set for a 10-year period.
Summary of transaction details:
- Property Type: Office
- Asking Rent: $72/ft.
- Square Footage: 25,000
- Transaction Date: 06/05/2021
- Tenant: D1 Capital Partners - Dan Sundheim
- Tenant's Representative: Tal & Oren Alexander - Douglas Elliman
- Landlord: Related Group - Nick Pérez & Jon Paul Pérez
- Landlord's Representative: Andrew Trench - Cushman & Wakefield
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93