Neil Merin, Jordan C. Paul & Dung Lam Acquire Boca Raton Office For $45.9M
SOLD
$45,925,000
Florida
See Similar DealsOffice171,724 SF
Sold 05/10/2022
SOLD
Neil Merin, Jordan C. Paul & Dung Lam Acquire Boca Raton Office For $45.9M
999 Yamato Road, Boca Raton, Florida 33487, United States
See Similar DealsOffice171,724 SF
Sold 05/10/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$267
Total Square Footage:171,724 SF
Transaction Type:Sale
The office property located at 999 & 1001 Yamato Road in Boca Raton has been sold in a transaction involving Neil Merin, Jordan C. Paul & Dung Lam. The property was purchased by MHCommercial Real Estate Fund II, along with their joint venture partner. The seller of the property was Adler Real Estate Partners. The sale price for the property was $45,925,000, and it encompasses a total area of 171,724 square feet, resulting in a price per square foot of $267.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $45,925,000
- Address: 999 & 1001 Yamato Road, Boca Raton
- Market: Boca Raton
Neil Merin, Jordan C. Paul & Dung Lam, representing MHCommercial Real Estate Fund II, were the buyers in this transaction. They were assisted by their joint venture partner. On the seller's side, the deal was facilitated by Adler Real Estate Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,449,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,161.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$217,707.93
Annual Debt Service$2,612,495.16
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