Grant Cardone's ArdoneCapital Acquires Office In Aventura For $93M
18851 NE 29th Ave, Aventura, FL, USA
$93,000,000
$175/SF
Building Size
528,954 SF
Asset Type
Office
Closing
Jun 1, 2020
AI
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.
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93