ABCD Courthouse Place LLC Acquires Property From Highline Real Estate Capital For $18.2M
SOLD
$18,200,000
Florida
See Similar DealsOffice66,246 SF
SOLD
ABCD Courthouse Place LLC Acquires Property From Highline Real Estate Capital For $18.2M
12 SE 7th St, Fort Lauderdale, FL, 333...
See Similar DealsOffice66,246 SF
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$274
Total Square Footage:66,246 SF
Transaction Type:Sale
The asset involved in the transaction is an office building located at 12 SE 7th St, Fort Lauderdale, FL, 333..., sold for $18,200,000.00. The property has a total square footage of 66,246 and is positioned in the Fort Lauderdale market.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $18,200,000.00
- Address: 12 SE 7th St, Fort Lauderdale, FL, 333...
- Market: Fort Lauderdale
- Seller: Highline Real Estate Capital
- Buyer: ABCD Courthouse Place LLC
- Seller's Representative: Gregory "Greg" Miller-Cushman & Wakefield
- Square Footage: 66,246
- Price per Square Foot: $274
Scott O’Donnell, Greg Miller, Dominic Montazemi, and Miguel Alcivar of Cushman & Wakefield represented Highline Real Estate Capital in the transaction. The acquisition was made by ABCD Courthouse Place LLC, based in New Haven, Conn. Notable tenants at the time of sale included law firms and offices associated with the legal industry, reflecting the building's strategic location near the Broward County Judicial Complex.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$970,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,660.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,277.29
Annual Debt Service$1,035,327.42
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