US VI 2 Brickell LLC & US VI 3 Brickell LLC Acquire Miami Office Buildings From Kieran Bowers For $163M
78 Southwest 7th Street, Miami, FL, USA
$163,000,000
$626/SF
Building Size
260,000 SF
Asset Type
Office
Closing
Jul 26, 2020
About this deal
AI
Kieran Bowers recently sold an office property in Miami for a whopping $163,000,000. The property, located at 78 Southwest Seventh Street and 98 Southeast Seventh Street, spans a total area of 260,000 square feet. The sale price translates to an average price per square foot of $630.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $163,000,000
- Address: 78 Southwest Seventh Street & 98 Southeast Seventh Street
- Market: Miami
The seller in this deal was Kieran Bowers, representing Swire Properties. On the other side, the buyers were identified as US VI 2 Brickell LLC and US VI 3 Brickell LLC.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93