facebook
Traded Co logo
Submit
Daily limit: 0/10

Longpoint Realty Partners Acquires 181,558-Square-Foot Trail Plaza Retail Property In Miami For $49.3M From Seller MetLife Real Estate Investment

Property Image
SOLD
$49,300,000
Dennis Carson
Casey Rosen
Dwight Angelini
+ 1

Florida

See Similar Deals
Retail181,558 SF
Sold 10/23/2023
the dealplayerscompscontact
Property Image
SOLD

Longpoint Realty Partners Acquires 181,558-Square-Foot Trail Plaza Retail Property In Miami For $49.3M From Seller MetLife Real Estate Investment

1032 Southwest 67th Avenue

See Similar Deals
Retail181,558 SF
Sold 10/23/2023
Dennis Carson
Casey Rosen
Dwight Angelini
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$271
Total Square Footage:181,558 SF
Transaction Type:Sale

The 181,558-square-foot Trail Plaza in Miami has been sold for $49.3 million in a recent transaction. The buyer, Longpoint Realty Partners, acquired the retail property from MetLife Real Estate Investment. The property, located at 1032 Southwest 67th Avenue, offers potential for future development and is anchored by Fresco Y Mas. It boasts high occupancy and is situated in a prime spot near Miami.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $49,300,000
  • Address: 1032 Southwest 67th Avenue, Miami
  • Market: Miami
  • Acres: 17

The deal was brokered by Casey Rosen and Dennis Carson of CBRE, representing the buyer. On the seller's side, Dwight Y. Angelini acted as the representative for Longpoint Realty Partners. MetLife Real Estate Investment, who had owned the property for over 30 years, decided to sell to Longpoint Realty Partners, a Boston-based company.

Players

Dennis Carson
CBRE
Dennis Carson
14 deals$419.3M volume
BROKER
Casey Rosen
CBRE
Casey Rosen
15 deals$419.9M volume
BROKER
Dwight Angelini
Longpoint Realty Partners
Dwight Angelini
24 deals$999M volume
BUYER
JM
MetLife
John McCallion
5 deals$204.3M volume
SELLER

Details

SOLD
IMAGE: Dennis Carson, Dwight Y. Angelini, John McCallion & Casey Rosen DATE: 10/23/2023 ADDRESS: 1032 Southwest 67th Avenue MARKET: Miami ASSET TYPE: Retail ~ ACRES: 17 BUYER: Longpoint Realty Partners (@LongpointRealtyPartners) - Dwight Y. Angelini SELLER: MetLife Real Estate Investment - John McCallion BROKERS: Casey Rosen & Dennis Carson - CBRE (@CBRE) SALE PRICE: $49,300,000 SF: 181,558 ~ PPSF: $272 NOTE: Longpoint Realty Partners, based in Boston, has purchased the 181,558-square-foot Trail Plaza in Miami for $49.3 million from MetLife Real Estate Investment, who had held the property for over 30 years. The retail property, anchored by Fresco Y Mas, offers potential for future development, has high occupancy, and is located in a prime spot near Miami.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,629,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$175,152.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$233,707.15
Annual Debt Service$2,804,485.82