Updated Sep 2, 2026
El-Ad National Properties Acquires Coconut Grove Package Deal For $107.8 Million From Canero Group Azora Capital And Vizcaya Capital
3265 Virginia Street & 3250 Mary Street
$107,800,000
$1,347/SF
Building Size
80,000 SF
Asset Type
Package Deal
Closing
Aug 14, 2026
About this deal
AI
A package deal was executed involving properties located at 3265 Virginia Street and 3250 Mary Street in Miami, totaling a sale price of $107,800,000. This transaction combined two properties to create a total assemblage of 2.24 acres in a sought-after luxury residential market, Coconut Grove.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $107,800,000
- Buyer: El-Ad National Properties
- Seller: Canero Group, Azora Capital & Vizcaya Capital
- Seller's Representative: Omar Morales - Berkadia
The transaction was facilitated by Omar Morales of Berkadia, who arranged the acquisition of the former Chateau Grove condominium site for $45.5 million in May 2026, followed by the adjacent office property sale for $62.3 million, contributing to El-Ad National's strategic expansion in the region.
Players
Miami Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93