Centennial Real Estate Acquisition Acquires Retail Property In Hialeah From Starwood Capital Group - Barry Sternlicht
SOLD
$149,350,000
Florida
See Similar DealsRetail301,592 SF
Sold 01/04/2022
SOLD
Centennial Real Estate Acquisition Acquires Retail Property In Hialeah From Starwood Capital Group - Barry Sternlicht
1675 West 49th Street, Hialeah, FL 33012
See Similar DealsRetail301,592 SF
Sold 01/04/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$495
Total Square Footage:301,592 SF
Transaction Type:Sale
The retail property located at 1675 W 49th St in Hialeah has been sold for a price of $149,350,000. The transaction took place on January 4, 2022. The property spans a total area of 301,592 square feet, resulting in a price per square foot of $495. The buyer in this deal was Centennial Real Estate Acquisition, while the seller was Starwood Capital Group, represented by Barry Sternlicht.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $149,350,000
- Date: 01/04/2022
- Address: 1675 W 49th St
- Market: Hialeah
- Buyer: Centennial Real Estate Acquisition
- Seller: Starwood Capital Group - Barry Sternlicht
Aareal Capital Corp. provided the lending for this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,965,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$530,609.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$707,995.19
Annual Debt Service$8,495,942.34
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