Prime US REIT Acquires Boca Raton Office For $99.5M With Buyer's Rep KBS
18995 Biscayne Boulevard, Miami, FL 33181, USA
$99,500,000
$520/SF
Building Size
191,294 SF
Asset Type
Office
Closing
Jul 19, 2020
About this deal
AI
An office property located at 1 Town Center Road in Boca Raton has been sold for a total of $99,500,000. The property spans approximately 191,294 square feet, resulting in a price per square foot of $520.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $99,500,000
- Address: 1 Town Center Road
- Market: Boca Raton
Prime US REIT, represented by Barbara Cambon, acquired the property from the CP Group, represented by Angelo Bianco, Chris Eachus, Siguler Guff & Co, represented by George W. Siguler and Drew Guff. KBS acted as the buyer's representative in the transaction, while CBRE, represented by Christian Lee, José Lobón, Amy Julian, Andrew Chilgren, and Royce Rose, served as the seller's representatives.
On the Map
$99,500,000
$520/SF
Office
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Players
Miami 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93