Renuity Leases 45000 Square Feet From Gildenson Real Estate At 2990 Ponce De Leon Coral Gables
2990 Ponce De Leon, Coral Gables, FL...
Building Size
45,000 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved is located at 2990 Ponce De Leon, Coral Gables, FL, encompassing a total of 45,000 square feet. It is classified as a Class A office building situated in the Coral Gables market, featuring modern amenities and a strategic location that enhances its appeal to potential tenants.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 2990 Ponce De Leon, Coral Gables, FL
- Square Feet: 45000
- Landlord: Gildenson Real Estate
- Landlord's Representative: Kevin Gonzalez - Floridian First Realty, Jake Freeman
- Tenant: Renuity
The deal was part of a series of transactions negotiated by Kevin Gonzalez and Jake Freeman, who were hired by BEA Equities and Gildenson Real Estate after their acquisition of the property in March 2022. The team successfully brought the asset to 95% leased within three months, indicating a rapid turnaround in leasing activity.
Players
Coral Gables Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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