Elysee Investments Acquires Aventura Plaza Retail Center For $48M
17801 Biscayne Boulevard
$48,000,000
$533/SF
Building Size
90,000 SF
Asset Type
Retail
Closing
Feb 7, 2024
About this deal
AI
Miami-based Elysee Investments has acquired Aventura Plaza, a retail property located at 17801 Biscayne Boulevard in Aventura. The property includes a 90,000 square feet shopping center with a two-story office building. The transaction was facilitated by Cushman & Wakefield and the purchase price was $48 million. The price per square foot came out to $533.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $48,000,000
- Address: 17801 Biscayne Boulevard
- Market: Aventura
- Buyer: Haim Yehezkel - Elysee Investments
- Seller: Marilyn Klompus - Aventura Plaza Partners
- Brokers: Adam Feinstein, Mark Gilbert & Mitchell Halpern - Cushman & Wakefield
This acquisition generated increased interest in Aventura Plaza following the recent arrival of Plum Market last year. The deal was successfully executed by the team at Cushman & Wakefield, including brokers Adam Feinstein, Mark Gilbert, and Mitchell Halpern.
On the Map
$48,000,000
$533/SF
Retail
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Players
Aventura 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93