Randall Davis Acquires Office Building On 1221 Brickell Ave, Miami
1221 Brickell Avenue, Miami, Florida 33131, United States
$286,500,000
$436/SF
Building Size
656,821 SF
Asset Type
Office
Closing
Jun 23, 2022
AI
The office property located at 1221 Brickell Ave in Miami has been sold in a recent transaction. The property spans a total area of 656,821 square feet. The sale took place on June 24, 2022, with Randall Davis as the buyer and Rockpoint as the seller. The transaction was finalized for a sale price of $286,500,000, resulting in a price per square foot of $436.
Summary of transation details
- Property Type: Office
- Transaction Amount: $286,500,000
- Property Size: 656,821 square feet
- Price per Square Foot: $436
- Buyer: Randall Davis
- Seller: Rockpoint
This transaction showcases the involvement of key individuals and companies in the deal. Randall Davis represented the buyer's interests, while Rockpoint acted as the seller's representative.
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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93