Hamesh Investment Acquires Property At 700 N Hiatus Rd Hollywood For $21 Million With Cushman & Wakefield As Seller's Rep
700 N Hiatus Rd, Hollywood, FL, 33026
$21,000,000
$228/SF
Building Size
92,000 SF
Asset Type
Office
Closing
Dec 23, 2016
About this deal
AI
The property involved in this transaction is a medical office building located at 700 N Hiatus Rd, Hollywood, FL, 33026, within the Pembroke Pines market. The total transaction amount was $21,000,000.00 for a total area of 92,000 square feet.
Summary of transation details:
- Property Type: Medical Office Building
- Transaction Amount: $21,000,000.00
- Address: 700 N Hiatus Rd, Hollywood, FL, 33026
- Market: Pembroke Pines
- Seller: The Professional Centre at Pembroke Lakes
- Buyer: Hamesh Investment
- Seller's Representatives: Dominic Montazemi, Donna Korn, Gregory (Greg) Miller from Cushman & Wakefield
- Leasing status: More than 97% leased
- Notable tenants: Asthma and Allergy Associates of Florida, Children's Urology Associates, South Florida ENT Associates
The deal was facilitated by a team from Cushman & Wakefield, including Scott O'Donnell, Greg Miller, Dominic Montazemi, Mike Davis, and Donna Korn. The acquisition presents a stable investment opportunity due to the favorable demand for medical office space amidst changing trends in the healthcare sector.
Players
Pembroke Pines 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93