Tricera Capital & LNDMRK Acquires Wynwood Office Building In Miami For $27.5M
230 Northwest 24th Street, Wynwood, Miami, FL, USA
$27,500,000
$273/SF
Building Size
100,439 SF
Asset Type
Office
Closing
Apr 19, 2021
About this deal
AI
The asset involved in this transaction is an office property located at 230 NW 24 St. & 2200-2220 NW 1st Ct in the Wynwood market of Miami. The acquisition loan for this property amounts to $27,500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,500,000
- Lender: Amerant Bank/Glacier Global Partners
- Landlord: Tricera Capital & LNDMRK
- Brokers: Scott Wadler & Michael Basinski
The key individuals involved in this transaction include Scott Wadler and Michael Basinski, who acted as the brokers representing the deal. The lenders, Amerant Bank and Glacier Global Partners, facilitated the acquisition loan, while the landlords are Tricera Capital and LNDMRK.
On the Map
$27,500,000
$273/SF
Office
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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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93