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701 Brickell Avenue, Miami,...

Nuveen Real Estate Leases 24,000 SF Office Space At 701 Brickell To Apollo Global Management
LEASEDOffice

Nuveen Real Estate Leases 24,000 SF Office Space At 701 Brickell To Apollo Global Management

701 Brickell Avenue, Miami, FL, USA

Building Size

24,000 SF

Asset Type

Office

Closing

Nov 22, 2021

AI

An office property located at 701 Brickell in Miami has been leased. The lease was finalized on November 22, 2021. The asset spans a total size of 24,000 square feet. The landlord for this property is Nuveen Real Estate, while the tenant is Apollo Global Management, specifically Marc Rowan. The lease term for this transaction is 10 years.

Summary of transaction details

The deal involved multiple representatives from different companies. Brian Gale, Ryan Holtzman, and Andrew Trench from Cushman & Wakefield acted as the landlord's representatives, while Neil Goldmacher and Mitchell Millowitz represented the tenant, Apollo Global Management - Marc Rowan. Together, they facilitated the successful lease agreement for the office space at 701 Brickell in Miami.

Players

Brian Gale

Cushman & Wakefield

Broker

$389M

vol

16 deals

Broker
Nuveen
NuveenLender
Nuveen
NuveenLandlord
Marc Rowan

Marc Rowan

Apollo Global

Tenant

$1.6B

vol

20 deals

Tenant

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