Mack Real Estate Group LLC Acquires Office Property From Terra Group And Avra Jain For $18.75M
3550 Biscayne Blvd & 3550 Biscayne Blvd
$18,750,000
Building Size
—
Asset Type
Office
Closing
Apr 20, 2015
AI
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.
Players
Miami 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
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93