Brandon Huffman Of Tourmaline Capital Partners Acquires Office In Coral Gables For $76M
1 Alhambra Plaza
$76,000,000
$160/SF
Building Size
473,214 SF
Asset Type
Office
Closing
Mar 18, 2025
About this deal
AI
The property involved in this transaction is an office asset located at 1 Alhambra Plaza in the Coral Gables market. The transaction was executed at a price of $76,000,000.00, covering a total square footage of 473,214.0.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $76,000,000.00
- Address: 1 Alhambra Plaza
- Market: Coral Gables
- Buyer: Brandon Huffman - Tourmaline Capital Partners
- Seller: Chris Neilson
Brandon Huffman represented Tourmaline Capital Partners in the acquisition, while Chris Neilson was the seller of the property. The transaction showcases significant involvement from both parties in the commercial real estate market.
On the Map
$76,000,000
$160/SF
Office
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Coral Gables Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93