Grant Cardone's ArdoneCapital Acquires Office In Aventura For $93M
SOLD
$93,000,000
Florida
See Similar DealsOffice528,954 SF
Sold 06/01/2020
SOLD
Grant Cardone's ArdoneCapital Acquires Office In Aventura For $93M
18851 NE 29th Ave, Aventura, FL, USA
See Similar DealsOffice528,954 SF
Sold 06/01/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$175
Total Square Footage:528,954 SF
Transaction Type:Sale
The 3.8-acre office property located at 18851 NE 29th Ave. in Aventura has been sold in a recent transaction. The sale took place on June 1, 2021, and was captured in an Instagram post by Grant Cardone.
Summary of transaction details
- Property Type: Office
- Address: 18851 NE 29th Ave., Aventura
- Market: Aventura
- Sale Price: $93,000,000
- Buyer: Grant Cardone - ardoneCapital
- Seller: C-III Capital Partners
- Lender: City National Bank
- Loan Amount: $65,000,000
The buyer of the property is Grant Cardone, representing ardoneCapital. The seller in this transaction is C-III Capital Partners. City National Bank provided a loan of $65,000,000 towards the purchase of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,960,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$330,409.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$440,867.45
Annual Debt Service$5,290,409.36
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