Everglades College Acquires $237.6M Office Portfolio In Fort Lauderdale, Fort Myers, Tampa, And More | Mark M. Rubin, Bastian Laggerbauer & Achikam Yogev, Colliers International
SOLD
$19,500,000
Florida
See Similar DealsOffice78,053 SF
Sold 08/01/2022
SOLD
Everglades College Acquires $237.6M Office Portfolio In Fort Lauderdale, Fort Myers, Tampa, And More | Mark M. Rubin, Bastian Laggerbauer & Achikam Yogev, Colliers International
2050 Spectrum Boulevard, Fort Lauderdale, Florida 33309, United States
See Similar DealsOffice78,053 SF
Sold 08/01/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$249
Total Square Footage:78,053 SF
Transaction Type:Sale
The sale involved a portfolio of office properties located in Fort Lauderdale, Fort Myers, Tampa, Sarasota, Lakeland, West Palm Beach, and Pembroke Pines. The properties included in the portfolio are:
- 1900 W Commercial Boulevard - Nineteen Hundred Building
- 1500 NW 49th Street - Spectrum 1500 Building
- 9100 Forum Corporate Parkway - Delphi Fort Myers
- 5002 West Waters Avenue - Venus Investment Property
- 6001 Lake Osprey Drive - LWR Commons
- 6151 Lake Osprey Drive - University Commons
- 2400 Interstate Drive - Olympus Lakeland (Phase I)
- 2380 Interstate Drive - Olympus Lakeland (Phase II)
- 2085 Vista Parkway - Athena Vista (Phase I)
- 2081 Vista Parkway - Athena Vista (Phase II)
- 1640 SW 145 Avenue - Demeter Pembroke Pines
Summary of transaction details:
- Property Type: Office (Portfolio)
- Transaction Amount: $237,610,000
- Square Footage: 749,789
- Price per Square Foot: $317
The buyer in the transaction was Everglades College, while the seller was Keenan Development, represented by William Keenan. The deal was facilitated by Mark M. Rubin, Bastian Laggerbauer, and Achikam Yogev from Colliers International.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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