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Highline Real Estate Capital Acquires Office In Doral From PGIM Real Estate For $73M

Property Image
SOLD
$73,000,000
Andrew Chilgren
Jose Lobon
+ 1

Florida

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Office372,639 SF
Sold 11/15/2021
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Property Image
SOLD

Highline Real Estate Capital Acquires Office In Doral From PGIM Real Estate For $73M

8400 Northwest 33rd Street, Doral, FL, USA

See Similar Deals
Office372,639 SF
Sold 11/15/2021
Andrew Chilgren
Jose Lobon
+ 1
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$195
Total Square Footage:372,639 SF
Transaction Type:Sale

The office property located at 8200, 8300, and 8400 N.W. 33rd St in Doral has been sold in a transaction. The sale was completed on November 15, 2021.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $73,000,000
  • Square Footage: 372,639
  • Price per Square Foot: $196
  • Buyer: Highline Real Estate Capital - David Moret & Andrew Remick, Square2 - Jay Caplin & Mike Manno & Ascentris
  • Seller: PGIM Real Estate

The buyer in this transaction was Highline Real Estate Capital represented by David Moret and Andrew Remick, as well as Square2 represented by Jay Caplin and Mike Manno, and Ascentris. The seller was PGIM Real Estate. The deal was facilitated by brokers Chris Lee, Jose Lobon, Andrew Chilgren, and Marcos Minaya from CBRE.

Players

Christian "Chris" Lee
29 deals$2.2B volume(305) 773-2813
BROKER

Jose Lobon
CBRE
53 deals$3.8B volume(305) 381-6446
BROKER

Andrew Chilgren
CBRE
22 deals$1.6B volume
BROKER

Marcos Minaya
18 deals$963.9M volume(786) 307-6497
BROKER

PGIM
SELLER

Details

SOLD
IMAGE: Andrew Remick, David Moret, Jay Caplin & Mike Manno DATE: 11/15/2021 ADDRESS: 8200, 8300 & 8400 N.W. 33rd St MARKET: Doral ASSET TYPE: Office BUYER: Highline Real Estate Capital - David Moret & Andrew Remick, Square2 - Jay Caplin & Mike Manno & Ascentris SELLER: PGIM Real Estate BROKERS: Chris Lee, Jose Lobon, Andrew Chilgren & Marcos Minaya - CBRE SALE PRICE: $73,000,000 SF: 372,639 ~ PPSF: $196

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

$3,893,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$259,353.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$346,057.24
Annual Debt Service$4,152,686.91