Morning Calm Management Acquires Office Buildings In West Palm Beach For $54.2M
319 Clematis Street, West Palm Beach, FL, USA
$54,200,000
Building Size
—
Asset Type
Office
Closing
Aug 5, 2020
About this deal
AI
The office property located at 319 Clematis St., 224 Datura St, and 324 Datura St in West Palm Beach has been sold for a total of $54,200,000. The transaction took place on August 5, 2021. The property was purchased by Morning Calm Management, represented by Mukang Cho. The seller, David Associates, was represented by Alfred Marulli.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $54,200,000
Morning Calm Management, led by Mukang Cho, made the acquisition from David Associates, represented by Alfred Marulli. The deal marks a significant investment in the West Palm Beach market for Morning Calm Management. The purchase of these office properties demonstrates their strategic growth in the region.
On the Map
$54,200,000
Office
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West Palm Beach 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93