Monarch Alternative Capital Acquires Miami Office For $300M
SOLD
$300,000,000
+ 1
Florida
See Similar DealsOffice813,000 SF
Sold 05/14/2021
SOLD
Monarch Alternative Capital Acquires Miami Office For $300M
201 South Biscayne Boulevard, Miami, FL, USA
See Similar DealsOffice813,000 SF
Sold 05/14/2021
+ 1
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$369
Total Square Footage:813,000 SF
Transaction Type:Sale
The sale of an office asset in Miami has been finalized at 201 South Biscayne Boulevard. The transaction took place on May 14, 2021, and the property spans approximately 813,000 square feet. The sale price amounted to $300,000,000, resulting in a price per square foot of $369.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $300,000,000
- Address: 201 South Biscayne Boulevard
- Market: Miami
Monarch Alternative Capital acted as the buyer in this deal, while the Townsend Group represented the seller. The seller's representatives included Adam Spies, Mike Davis, Dominic Montazemi, and Adam Doneger.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$16,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,065,836.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,422,153.05
Annual Debt Service$17,065,836.63
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