The Green Companies Refinances Dadeland West Office Park With $14.1M Wells Fargo Loan
10625 Southwest 88th Street & 10689 Southwest 88th Street
$14,100,000
$63/SF
Building Size
222,036 SF
Asset Type
Office
Closing
Jun 13, 2024
AI
The Dadeland West Office Park in Miami, a 111,018-square-foot office property located at 10625-10689 Southwest 88th Street, was refinanced for $14,100,000. The property, owned by The Green Companies, is 98% leased and has undergone significant capital improvements since 2019.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $14,100,000
- Market: Miami
- Lender: Wells Fargo
- Landlord: The Green Companies
- Brokers: Amy Julian & Andrew Chilgren - CBRE
- Loan Type: Refinance
Amy Julian and Andrew Chilgren from CBRE represented The Green Companies in the transaction, with Wells Fargo providing the $14.1 million refinancing loan for the Dadeland West Office Park. The office property has maintained a strong occupancy rate, making it an attractive investment in Miami's market.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93