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10625 Southwest 88th Street

The Green Companies Refinances Dadeland West Office Park With $14.1M Wells Fargo Loan
FINANCEDOffice

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:

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

Amy Julian

CBRE

Broker

$2.1B

vol

34 deals

Broker
Wells Fargo
Wells FargoLender

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