Tourmaline Capital Partners & Monarch Alternative Capital Acquire 801 Brickell Avenue Office In Miami For $250M
801 Brickell Avenue
$250,000,000
$607/SF
Building Size
411,613 SF
Asset Type
Office
Closing
Oct 5, 2023
About this deal
AI
The property involved in this transaction is located at 801 Brickell Avenue in Miami. It is an office space with a total area of 411,613 square feet. The property was sold for a price of $250,000,000, resulting in a price per square foot of $607.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $250,000,000
- Address: 801 Brickell Avenue, Miami
- Market: Miami
- Square Footage: 411,613
- Price per Square Foot: $607
Tourmaline Capital Partners and Monarch Alternative Capital were the buyers in this transaction, while Nuveen acted as the seller. The seller's representatives included Benjamin Lushing, Adam Spies, and Marcella Fasulo from Newmark, as well as Dominic Montazemi, Mike Davis, and Miguel Alcivar from Cushman & Wakefield.
On the Map
$250,000,000
$607/SF
Office
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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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93