Related Companies Acquires Office Property In West Palm Beach For $175M
525 Okeechobee Boulevard, West Palm Beach, FL, USA
$175,000,000
$571/SF
Building Size
306,480 SF
Asset Type
Office
Closing
May 24, 2020
About this deal
AI
The office building located at 525 Okeechobee Boulevard in West Palm Beach has been sold. The property, spanning a total of 306,480 square feet, was sold for a total of $175,000,000. This amounts to a price per square foot of $571. The sale took place on May 24, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $175,000,000
- Address: 525 Okeechobee Boulevard, West Palm Beach
- Market: West Palm Beach
The buyer in this transaction was Related Companies, represented by Stephen Ross and Jeff Blau. The seller was W. R. Berkley Corporation, represented by William Berkely.
Players
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Stephen Ross to view all their deals.
Browse Florida office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93