Guardian Life Insurance Refinances Retail Property In Miami Gardens For $16.8M
18350 Northwest 7th Avenue, Miami, FL 33169, USA
$16,800,000
$142/SF
Building Size
117,829 SF
Asset Type
Retail
Closing
Oct 22, 2021
AI
The retail property located at 18350 NW 7th Avenue in Miami Gardens has been involved in a recent transaction. The property spans approximately 117,829 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,800,000
- Address: 18350 NW 7th Avenue, Miami Gardens
- Market: Miami Gardens
The loan for this transaction was provided by Guardian Life Insurance Company for a refinance amount of $16,800,000. The landlord in this deal is MMG Equity Partners, represented by Gabriel Navarro. JLL Capital Markets facilitated the transaction, with Chris Drew, Brian Gaswirth, and Reid Carleton serving as the brokers involved.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93