Banyan Street Capital Acquires Office Building In Doral From Rialto Capital For $43M
$43,000,000
SOLD
$43,000,000
Florida
See Similar DealsOffice279,098 SF
Sold 09/09/2020
$43,000,000
SOLD
Banyan Street Capital Acquires Office Building In Doral From Rialto Capital For $43M
3750 Northwest 87th Avenue, Doral, FL, USA
See Similar DealsOffice279,098 SF
Sold 09/09/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$154
Total Square Footage:279,098 SF
Transaction Type:Sale
The transaction involved an office asset located at 3750 NW 87th Avenue & 8750 NW 36th Street in Doral. The property was sold for $43,000,000, encompassing a total area of 279,098 square feet, translating to a price per square foot of $154.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $43,000,000
- Address: 3750 NW 87th Avenue & 8750 NW 36th Street
- Market: Doral
- Seller: Rialto Capital
- Buyer: Banyan Street Capital
- Buyer’s Representative: Rudy Prio Touzet
- Square Footage: 279,098
- Price Per Square Foot: $154
The seller of the property was Rialto Capital, while the buyer, Banyan Street Capital, was represented by Rudy Prio Touzet in this transaction. This sale reflects a significant exchange within the office market in the Doral area.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,293,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$152,769.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,841.94
Annual Debt Service$2,446,103.25
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