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Jose Isaac Peres & Marcelo Kingston Of Multiplan Real Estate Asset Management Acquire Office In Coral Gables For $17.8M

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SOLD
$17,800,000

Florida

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Office25,000 SF
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SOLD

Jose Isaac Peres & Marcelo Kingston Of Multiplan Real Estate Asset Management Acquire Office In Coral Gables For $17.8M

1501 Venera Avenue

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Office25,000 SF
Sold
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$712
Total Square Footage:25000 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 1501 Venera Avenue in Coral Gables. This office asset spans 25,000 square feet and has been sold for a price of $17,800,000.00.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $17,800,000.00
  • Address: 1501 Venera Avenue
  • Market: Coral Gables
  • Square Footage: 25,000.0
  • Buyer: Jose Isaac Peres & Marcelo Kingston - Multiplan Real Estate Asset Management
  • Seller: Rosen Family

The key individuals involved in this transaction are Jose Isaac Peres and Marcelo Kingston, representing Multiplan Real Estate Asset Management, which acquired the property from the Rosen Family.

Players

P
Pgutman
BROKERAGE
Marcelo Kingston
Marcelo Kingston
4 deals$176.3M volume
BUYER
MM
Multiplan Real Estate Asset Management
BUYER

Details

SOLD
IMAGE: Marcelo Kingston & Jose Isaac Peres DATE: 03/19/2025 ADDRESS: 1501 Venera Avenue MARKET: Coral Gables ASSET TYPE: Office BUYER: Jose Isaac Peres & Marcelo Kingston - Multiplan Real Estate Asset Management SELLER: Rosen Family SALE PRICE: $17,800,000 SF: 25,000 ~ PPSF: $712 NOTE: Multiplan Real Estate Asset Management paid $17.8M for an office building at 1501 Venera Ave, completing a 1.4-acre assemblage in Coral Gables for the firm's first condo project. The seller was a company tied to the Rosen family. The site includes the fully occupied Park Place II office building.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$949,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,239.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,381.08
Annual Debt Service$1,012,572.97