Limestone Asset Management Acquires Property From MetLife Investment Management For $70.5M In Pinecrest
13601 S Dixie Hwy, Pinecrest, FL, 331...
$70,500,000
Building Size
—
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
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.
On the Map
$70,500,000
Retail
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Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93