AEW Capital Acquires Retail Property In Miami For $108.7M
1650 Northwest 117th Place, Miami, FL 33182
$108,700,000
$263/SF
Building Size
412,000 SF
Asset Type
Retail
Closing
Dec 15, 2021
About this deal
AI
A retail property located at 1650 NW 117th Pl in Miami was recently sold for $108,700,000. The property spans a total area of 412,000 square feet, resulting in a price per square foot of $264. The transaction took place on December 15, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $108,700,000
The buyer of the property was AEW Capital, while the sellers were Stiles Corporation and Lubert Adler Real Estate Funds. The deal was facilitated by brokers Danny Finkle, Eric Williams, and Alex Sharrin from JLL.
Players
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93