AGWIP Asset Management Acquires Homestead Mobile Home Park From Lennar Homes For $23.2M
28600 Southwest 132nd Avenue
$23,200,000
$13/SF
Building Size
1,684,465 SF
Asset Type
Other
Closing
Aug 9, 2020
About this deal
AI
A mobile home park located at 28600 Southwest 132nd Avenue in Homestead has been sold for $23,200,000. The property spans across 43 acres, resulting in a price per acre of $539,535. The sale took place on 08/09/2021, and the transaction involved AGWIP Asset Management as the buyer and Lennar Homes, represented by Stuart Miller, as the seller.
Summary of transaction details
- Property Type: Mobile Home Park
- Transaction Amount: $23,200,000
- Address: 28600 Southwest 132nd Avenue
- Market: Homestead
- Acres: 43
- Price Per Acre: $539,535
Stuart Miller, from Lennar Homes, acted as the seller in the transaction. AGWIP Asset Management, represented by their undisclosed representative, served as the buyer. With this sale, AGWIP Asset Management has acquired a significant mobile home park in Homestead, positioning themselves in the thriving real estate market of the area.
Players
Homestead Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93