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Turnberry Associates And Simon Property Group Acquire Retail Asset In Aventura For $131 Million

Property Image
SOLD
$131,000,000
Kim Flores
Chris Angelone
+ 3

Florida

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Retail219,000 SF
Sold 12/01/2025
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Property Image
SOLD

Turnberry Associates And Simon Property Group Acquire Retail Asset In Aventura For $131 Million

19505 Biscayne Boulevard

See Similar Deals
Retail219,000 SF
Sold 12/01/2025
Kim Flores
Chris Angelone
+ 3
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$598
Total Square Footage:219,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail establishment located at 19505 Biscayne Boulevard in Aventura, featuring a total square footage of 219,000. The sale was completed for a transaction amount of $131,000,000, resulting in a price per square foot of $598.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $131,000,000
  • Address: 19505 Biscayne Boulevard
  • Market: Aventura
  • Square Footage: 219,000
  • Price per Square Foot: $598
  • Buyer: Turnberry Associates & Simon Property Group
  • Seller: Seritage Growth Properties
  • Brokerage: JLL
  • Brokers: Danny Finkle, Jorge Portela, Kim Flores, Chris Angelone, Jacob Wise & Evan Lahr

This transaction involved Turnberry Associates and Simon Property Group as the buyers, while Seritage Growth Properties served as the seller. The brokers facilitating this deal were Danny Finkle, Jorge Portela, Kim Flores, Chris Angelone, Jacob Wise, and Evan Lahr representing JLL.

Players

Danny Finkle
57 deals$3.9B volume
BROKER

Chris Angelone
JLL
24 deals$2.2B volume(617) 316-6466
BROKER

Kim Flores
JLL
35 deals$3.2B volume
BROKER

Jorge Portela
JLL
23 deals$1.6B volume
BROKER

Evan Lahr
JLL
8 deals$987.4M volume
BROKER

Jacob Wise
JLL
7 deals$934.4M volume
BROKER

Simon Property Group
BUYER

Details

SOLD
IMAGE: Jacob Wise, Evan Lahr, Jorge Portela, Kim Flores, Danny Finkle & Chris Angelone DATE: 12/01/2025 ADDRESS: 19505 Biscayne Boulevard MARKET: Aventura ASSET TYPE: Retail BUYER: Turnberry Associates (@ByTurnberry) & Simon Property Group (@SimonPropertyGroup) SELLER: Seritage Growth Properties BROKERS: Danny Finkle, Jorge Portela, Kim Flores, Chris Angelone, Jacob Wise & Evan Lahr (@EvanLahr) - JLL (@JLL) SALE PRICE: $131,000,000 SF: 219,000 ~ PPSF: $598

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,986,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$465,415.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$621,006.83
Annual Debt Service$7,452,082.00