Zentrix Industries Ltd. Acquires Office Building In Miami For $24M Transaction
SOLD
$24,000,000
Florida
See Similar DealsOffice
Sold 07/09/2021
SOLD
Zentrix Industries Ltd. Acquires Office Building In Miami For $24M Transaction
315 S Biscayne BLVD, Miami, FL, 33131
See Similar DealsOffice
Sold 07/09/2021
Summary
FLORIDA
Asset Type:Office
Transaction Type:Sale
The property involved in the transaction is an office located at 315 S Biscayne BLVD, Miami, FL, 33131. The asset was sold for $24,000,000.00 in Miami, with Sean Kelly from CBRE representing the seller and Zentrix Industries Ltd. as the buyer.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,000,000.00
- Address: 315 S Biscayne BLVD, Miami, FL, 33131
- Market: Miami
- Seller's Rep: Sean Kelly (CBRE)
- Buyer: Zentrix Industries Ltd.
The deal involved in the transaction took place on 07/09/2021. The office property was a significant asset in Miami, reflecting the dynamic real estate market present in the area. The transaction brought together Sean Kelly from CBRE and Zentrix Industries Ltd., showcasing the strategic representation on both sides of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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