ABCD Courthouse Place LLC Acquires Property From Highline Real Estate Capital For $18.2M
12 SE 7th St, Fort Lauderdale, FL, 333...
$18,200,000
$274/SF
Building Size
66,246 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
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.
Players
Fort Lauderdale 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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93