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Core Investment Management Acquires Property At 12095 SW 152nd St Miami For $44.9M

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SOLD
$44,900,000

Florida

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Other205,853 SF
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SOLD

Core Investment Management Acquires Property At 12095 SW 152nd St Miami For $44.9M

12095 SW 152nd St, Miami, FL, 33177

See Similar Deals
Other205,853 SF
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Summary

FLORIDA
Asset Type:Other
Price Per Square Foot:$218
Total Square Footage:205,853 SF
Transaction Type:Sale

The property involved in this transaction is Deerwood Town Center, a grocery-anchored shopping center located at 12095 SW 152nd St, Miami, FL, 33177. The transaction occurred in the Miami market, with the property spanning a total of 205,853 square feet. The purchase price was $44,900,000.00.

Summary of transaction details:

  • Property Type: Shopping Center
  • Transaction Amount: $44,900,000.00
  • Address: 12095 SW 152nd St, Miami, FL, 33177
  • Total Square Footage: 205,853
  • Buyer: Core Investment Management
  • Seller: Courtelis Co.
  • Seller's Representatives: Kim Flores-JLL, Danny Finkle-JLL, Eric Williams-JLL
  • Notable Tenants: Fresco y Mas, Amped Fitness, Pet Supermarket, TD Bank
  • Leasing Status: Fully leased at the time of sale
  • Location Reference: Across from the Zoo Miami

The transaction was facilitated by JLL, with key involvement from their representatives Kim Flores, Danny Finkle, and Eric Williams. Courtelis Co. had owned the center since it delivered the first phase in 1985, showcasing a long-term investment in this property. The center's diverse tenant mix contributes to its appeal within the community.

Players

Danny Finkle
57 deals$3.9B volume
BROKER

Eric Williams
Newmark
52 deals$2.8B volume
BROKER

Kim Flores
JLL
35 deals$3.2B volume
BROKER

BUYER

Details

SOLD
IMAGE: 12095 SW 152nd St, Miami, FL, 33177 MARKET: Miami SELLER'S REP: Kim Flores-JLL, Danny Finkle-JLL, Eric Williams-JLL BUYER: Core Investment Management SELLER: PRICE: $44,900,000.00 SF: 205853

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

$2,394,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,520.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$212,848.91
Annual Debt Service$2,554,186.88