Monarch Alternative Capital Acquires Miami Office For $300M
201 South Biscayne Boulevard, Miami, FL, USA
$300,000,000
$369/SF
Building Size
813,000 SF
Asset Type
Office
Closing
May 13, 2021
About this deal
AI
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.
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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93