Fox Ridge Capital, TKF Real Estate Investment & Jax Capital Investments Acquire Hollywood Office Building For $50M
SOLD
$50,000,000
Florida
See Similar DealsOffice253,742 SF
Sold 08/30/2021
SOLD
Fox Ridge Capital, TKF Real Estate Investment & Jax Capital Investments Acquire Hollywood Office Building For $50M
3440 Hollywood Boulevard, Hollywood, FL, USA
See Similar DealsOffice253,742 SF
Sold 08/30/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$197
Total Square Footage:253,742 SF
Transaction Type:Sale
The office property located at 3440 Hollywood Boulevard and 200-300 S Park Road in Hollywood has been sold. The transaction took place on August 30, 2021. The property, spanning 253,742 square feet, was sold for a total price of $50,000,000, resulting in a price per square foot of $197. The buyer of the property includes Fox Ridge Capital, TKF Real Estate Investment, and Jax Capital Investments, while the seller was Black Creek Capital.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $50,000,000
- Square Footage: 253,742
- Price per Square Foot: $197
- Address: 3440 Hollywood Boulevard & 200-300 S Park Road
- Market: Hollywood
The sale of this office property was facilitated by Dominic Montazemi, Scott O’Donnell, and Mike Davis from Cushman & Wakefield. They represented the buyer's side, which includes Fox Ridge Capital, TKF Real Estate Investment, and Jax Capital Investments, in this transaction.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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