CP Group And DRA Advisors Acquire Office Property In Miami For $163.5M
100 Southeast 2nd Street, Miami, Florida 33131, United States
$163,500,000
$257/SF
Building Size
636,000 SF
Asset Type
Office
Closing
Jun 30, 2022
About this deal
AI
The office property located at 100 Southeast Second Street in Miami has been sold in a transaction. The property spans approximately 636,000 square feet and is situated in the Miami market. The sale price for this asset was $163,500,000, resulting in a price per square foot of $257.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $163,500,000
- Address: 100 Southeast Second Street
- Market: Miami
The buyer of the property is CP Group, represented by Angelo Bianco, and DRA Advisors, represented by David Luski. The seller in this transaction is Sumitomo Corporation of Americas. The deal was facilitated by Dominic Montazemi of Cushman & Wakefield.
On the Map
$163,500,000
$257/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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93