Tate Capital Acquires Office Building In North Miami From Property Markets Group For $10.7M
1600 Northeast 126th Street, North Miami, Florida 33161, United States
$10,700,000
Building Size
—
Asset Type
Office
Closing
Jan 10, 2022
About this deal
AI
Tate Capital, led by Jimmy Tate and Kenny Tate, has acquired an office property located at 1600 Northeast 126th Street in North Miami. The property was sold by Property Markets Group for a total of $10,700,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $10,700,000
- Buyer: Tate Capital - Jimmy Tate & Kenny Tate
- Seller: Property Markets Group
- Address: 1600 Northeast 126th Street
- Market: North Miami
Tate Capital, represented by Jimmy Tate and Kenny Tate, successfully completed the acquisition of this office property in North Miami. This transaction showcases the strategic investment approach of Tate Capital in expanding their real estate portfolio.
Players
North Miami Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93