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
$40,000,000
Building Size
—
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
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
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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93