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Core Investment Management Acquires Retail Property In Miami For $44.85M

Property Image
SOLD
$44,850,000
Jorge Portela
Michael Kavaler
Cameron Beck
+ 4

Florida

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Retail205,853 SF
Sold 10/04/2022
the dealplayerscompscontact
Property Image
SOLD

Core Investment Management Acquires Retail Property In Miami For $44.85M

12107 Southwest 152nd Street, Miami, Florida 33157, United States

See Similar Deals
Retail205,853 SF
Sold 10/04/2022
Jorge Portela
Michael Kavaler
Cameron Beck
+ 4
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$217
Total Square Footage:205,853 SF
Transaction Type:Sale

A retail property located at 12107 SW 152nd St in Miami has been sold for a total price of $44,850,000. The property spans 205,853 square feet, resulting in a price per square foot of $218. The transaction took place on October 4, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $44,850,000
  • Address: 12107 SW 152nd St, Miami
  • Square Footage: 205,853
  • Price per Square Foot: $218

The buyer of the property is Core Investment Management, represented by Adam Greenberg. On the other hand, the seller is Courtelis Company, represented by Elias Vassilaros. The deal was facilitated by the following brokers from JLL: Danny Finkle, Eric Williams, Jorge Portela, Kim Flores, Cameron Beck, and Michael Kavaler.

Players

Danny Finkle
JLL
Danny Finkle
57 deals$3.9B volume
BROKER
Eric Williams
Newmark
Eric Williams
52 deals$2.8B volume
BROKER
Kim Flores
JLL
Kim Flores
35 deals$3.2B volume
BROKER
Cameron Beck
JLL
Cameron Beck
15 deals$929.3M volume
BROKER
Michael Kavaler
JLL
Michael Kavaler
15 deals$817.4M volume(917) 923-4242
BROKER
Jorge Portela
JLL
Jorge Portela
23 deals$1.6B volume
BROKER
Adam Greenberg
Adam Greenberg
7 deals$131.4M volume
BUYER
CC
Courtelis Company
SELLER

Details

SOLD
IMAGE: Jorge Portela, Michael Kavaler, Danny Finkle, Kim Flores, Eric Williams & Cameron Beck DATE: 10/04/2022 ADDRESS: 12107 SW 152nd St MARKET: Miami ASSET TYPE: Retail BUYER: Core Investment Management - Adam Greenberg SELLER: Courtelis Company - Elias Vassilaros BROKERS: Danny Finkle, Eric Williams, Jorge Portela, Kim Flores, Cameron Beck & Michael Kavaler - JLL (@JLL) SALE PRICE: $44,850,000 SF: 205,853 ~ PPSF: $218

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

$2,392,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,342.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$212,611.88
Annual Debt Service$2,551,342.58