RFR Holding Acquires Office Building In Downtown Miami For $90M
SOLD
$90,000,000
+ 3
Florida
See Similar DealsOffice310,000 SF
Sold 01/13/2022
SOLD
RFR Holding Acquires Office Building In Downtown Miami For $90M
100 Biscayne Boulevard
See Similar DealsOffice310,000 SF
Sold 01/13/2022
+ 3
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$290
Total Square Footage:310,000 SF
Transaction Type:Sale
A 310,000 square foot office property located at 100 Biscayne Boulevard in Downtown Miami has been sold for $90,000,000. The property was acquired by RFR Holding from East End Capital. The transaction took place on January 13, 2022. The office asset is situated in a prime location in Downtown Miami.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $90,000,000
- Address: 100 Biscayne Boulevard
- Market: Downtown Miami
- Square Footage: 310,000
The deal was facilitated by the brokers from Cushman & Wakefield, including Adam Spies, Adam Doneger, Avery Silverstein, Mike Davis, Dominic Montazami, and Miguel Alcivar. They represented both the buyer, RFR Holding, and the seller, East End Capital. These brokers played a crucial role in ensuring the successful completion of the transaction.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99
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