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Limestone Asset Management Acquires Property From MetLife Investment Management For $70.5M In Pinecrest

Property Image
SOLD
$70,500,000

Florida

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SOLD

Limestone Asset Management Acquires Property From MetLife Investment Management For $70.5M In Pinecrest

13601 S Dixie Hwy, Pinecrest, FL, 331...

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Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

The property asset involved in this transaction is located at 13601 S Dixie Hwy, Pinecrest, FL, 331. The transaction amount for this sale is $70,500,000.00, with no square footage specified. This asset is situated within the Miami market.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $70,500,000.00
  • Address: 13601 S Dixie Hwy, Pinecrest, FL, 331
  • Market: Miami
  • Seller: metlife-investment-management'>metlife-investment-management'>metlife-investment-management'>MetLife Investment Management
  • Buyer: Limestone Asset Management
  • Seller's Representative: Eric Williams - JLL

The transaction witnessed Limestone Asset Management acquiring the property from metlife-investment-management'>metlife-investment-management'>metlife-investment-management'>MetLife Investment Management, with Eric Williams from JLL representing the seller in this deal.

Players

Eric Williams
Newmark
Eric Williams
52 deals$2.8B volume
BROKER
Limestone Asset Management
Limestone Asset Management
BUYER
MetLife
MetLife
SELLER
MetLife
MetLife
LENDER

Details

SOLD
IMAGE: 13601 S Dixie Hwy, Pinecrest, FL, 331... MARKET: Miami SELLER'S REP: Eric Williams -JLL BUYER: Limestone Asset Management SELLER: MetLife Investment Management PRICE: $70,500,000.00 SF: 0

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

$3,760,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$250,471.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$334,205.97
Annual Debt Service$4,010,471.61