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1625 North Commerce Parkway...

Fox Ridge Capital Acquires Office Building In Weston For $8.3M
SOLDOffice

Fox Ridge Capital Acquires Office Building In Weston For $8.3M

1625 North Commerce Parkway, Weston, FL, USA

$8,300,000

$246/SF

Building Size

33,720 SF

Asset Type

Office

Closing

Mar 9, 2021

AI

The office property located at 1625 North Commerce Parkway in Weston has been sold. The transaction took place on March 10, 2021. The property was purchased by Fox Ridge Capital, represented by Grant Horwitz. The sellers were Highline Real Estate Capital, represented by David Moret, and Sefira Capital, represented by Aby Galsky and Mijael Attias. David Duckworth, John Crotty, Michael Fay, Brian de la Fé, Emily Brais, and Berkley Bloodworth from Avison Young acted as brokers in the deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $8,300,000
  • Square Footage: 33,720
  • Price per Square Foot: $246
  • Address: 1625 North Commerce Parkway, Weston
  • Market: Weston

The buyers, Fox Ridge Capital, made the acquisition through their representative, Grant Horwitz. The sellers, Highline Real Estate Capital, represented by David Moret, and Sefira Capital, represented by Aby Galsky and Mijael Attias, agreed to the sale. The transaction was facilitated by the brokers David Duckworth, John Crotty, Michael Fay, Brian de la Fé, Emily Brais, and Berkley Bloodworth from Avison Young.

Players

Emily Brais

Avison Young

Broker

$97.1M

vol

9 deals

Broker

Grant Horwitz

Fox Ridge Capital

Buyer

$45.6M

vol

2 deals

Buyer

Weston 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

1.91%

Cash-on-Cash

-0.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93