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NayaUmi LLC Acquires Property At 790 NW 107th Ave Miami For $40 Million With Ike Ojala As The Broker

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SOLD
$40,000,000

Florida

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NayaUmi LLC Acquires Property At 790 NW 107th Ave Miami For $40 Million With Ike Ojala As The Broker

790 NW 107th Ave, Miami, FL, 33172

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Summary

FLORIDA
Asset Type:Office
Transaction Type:Sale

The property involved in the transaction is Lennar Corporate Center, a four-building office complex located at 790 NW 107th Ave, Miami, FL, 33172. The transaction price was $40 million, and the property has a square footage of 0 in the context provided.

Summary of transation details:

  • Property Type: Office Complex
  • Transaction Amount: $40,000,000.00
  • Buyer: NayaUmi LLC
  • Seller's Representative: Ike Ojala - JLL
  • Loan Amount: $28.6 million
  • Loan Provider: CMBS lender
  • Loan Features: Partial interest-only payments, 72 percent loan to value ratio
  • Occupancy Rate: 63 percent leased at time of sale
  • Notable Tenants: Rialto Capital Management, Eagle Home Mortgage, North American Title Co.

The deal involved a partnership between Naya USA LLC, led by Yoav Merary, and Coast Capital Partners LLC, led by Guy Sharon. Hermen Rodriguez, Ike Ojala, and Tracey Goo of HFF represented the seller, Colony Realty Partners, while Christopher Apone and Charles Foschini of Berkadia arranged the loan on behalf of the buyer. The property has served as the title insurance company's headquarters since 1982.

Players

Ike Ojala
25 deals$2B volume(305) 774-6810
BROKER

HFF
BROKERAGE

Details

SOLD
IMAGE: 790 NW 107th Ave, Miami, FL, 33172 MARKET: Miami SELLER'S REP: Ike Ojala - JLL BUYER: NayaUmi LLC PRICE: $40,000,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88