Brick & Timber Collective Acquires Office Asset In Miami From LNDMRK Development And Tricera Capital For $62M
222 Nw 24th St
$62,000,000
Building Size
—
Asset Type
Office
Closing
Dec 13, 2022
About this deal
AI
The property involved in this transaction is an office asset located at 222 Nw 24th St in the Miami market. The sale was completed for a total transaction amount of $62,000,000.00.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $62,000,000.00
- Buyer: Brick & Timber Collective
- Seller: LNDMRK Development and Tricera Capital
- Brokers: Tony Arellano - DWNTWN Realty Advisors
- Sale Date: 12/13/2022
In this transaction, Tony Arellano acted on behalf of DWNTWN Realty Advisors, representing the brokerage side of the deal. The buyer, Brick & Timber Collective, and the sellers, LNDMRK Development and Tricera Capital, were the key parties in this closed transaction.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Miami office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93