Mack Real Estate Group LLC Acquires Office Property From Terra Group And Avra Jain For $18.75M
SOLD
$18,750,000
Florida
See Similar DealsOffice
Sold 04/20/2015
SOLD
Mack Real Estate Group LLC Acquires Office Property From Terra Group And Avra Jain For $18.75M
3550 Biscayne Blvd & 3550 Biscayne Blvd
See Similar DealsOffice
Sold 04/20/2015
Summary
FLORIDA
Asset Type:Office
Transaction Type:Sale
The asset involved in this transaction is an office property located at 3550 Biscayne Blvd in Miami. The property was sold for $18,750,000.00, detailing a significant financial exchange within the Miami market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $18,750,000.00
- Address: 3550 Biscayne Blvd
- Market: Miami
- Buyer: Mack Real Estate Group, LLC
- Seller: Terra Group and Avra Jain
- Brokers: Tony Arellano - DWNTWN Realty Advisors
The transaction featured key participants including the buyer, Mack Real Estate Group, LLC, and the sellers, Terra Group and Avra Jain. The representation in this deal was provided by Tony Arellano from DWNTWN Realty Advisors, who served as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$66,614.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,884.57
Annual Debt Service$1,066,614.79
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