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Camilo Varela And Howard Levine Of Second Horizon Capital Acquire Orange Park Mall For $65.5M
SOLD
$65,500,000
Florida
See Similar DealsRetail950,000 SF
Sold 08/20/2025
SOLD
Camilo Varela And Howard Levine Of Second Horizon Capital Acquire Orange Park Mall For $65.5M
1910 Wells Road
See Similar DealsRetail950,000 SF
Sold 08/20/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$68
Total Square Footage:950,000 SF
Transaction Type:Sale
The retail asset located at 1910 Wells Road spans 59.6 acres and includes a total square footage of 950,000. The market for this property is Orange Park, with a sale price of $65,500,000. The price per square foot for this transaction amounts to $69.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $65,500,000
- Buyer: Camilo Varela & Howard Levine - Second Horizon Capital
- Seller: Christopher Conlon - Washington Prime Group
- Market: Orange Park
- Date of Sale: 08/20/2025
- Acres: 59.6
- Square Feet: 950,000
- Price per Square Foot: $69
Camilo Varela and Howard Levine, representing Second Horizon Capital, are the buyers involved in this transaction, while Christopher Conlon represents Washington Prime Group as the seller. The buyer intends to invest in upgrades, infrastructure, and community programming following the acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,493,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$232,707.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$310,503.42
Annual Debt Service$3,726,041.00
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