Ascentris, Highline Real Estate Capital, And Square2 Capital Acquire Office Portfolio In Doral For $73M
SOLD
$73,000,000
+ 2
Florida
See Similar DealsOffice372,639 SF
Sold 11/15/2021
SOLD
Ascentris, Highline Real Estate Capital, And Square2 Capital Acquire Office Portfolio In Doral For $73M
8200 Northwest 33rd Street
See Similar DealsOffice372,639 SF
Sold 11/15/2021
+ 2
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$195
Total Square Footage:372,639 SF
Transaction Type:Sale
An office property located at 8200, 8300, and 8400 NW 33rd St in Doral has been sold in a closed transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $73,000,000
- Acres: 21.4
- Buyer: Ascentris - Tricia Noble; Highline Real Estate Capital - David Moret; Square2 Capital - Jay Caplin
- Seller: PGIM Real Estate
- Brokers: Chris Lee, Jose Lobon, Andrew Chilgren, Marcos Minaya & Amy Julien - CBRE
The buyer representatives involved in the deal include Tricia Noble from Ascentris, David Moret from Highline Real Estate Capital, and Jay Caplin from Square2 Capital. The seller in the transaction was PGIM Real Estate. The brokers representing the deal were Chris Lee, Jose Lobon, Andrew Chilgren, Marcos Minaya, and Amy Julien from CBRE.
Players
SELLER
Details
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Deal Type
30 years
10 years
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
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