Wharton Realty Group Acquires Retail Property In Homestead For $82.75M
SOLD
$82,750,000
Florida
See Similar DealsRetail298,000 SF
Sold 01/07/2022
SOLD
Wharton Realty Group Acquires Retail Property In Homestead For $82.75M
2400 Northeast 10th Court, Homestead, FL 33033
See Similar DealsRetail298,000 SF
Sold 01/07/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$277
Total Square Footage:298,000 SF
Transaction Type:Sale
The retail property located at 2400 NE 10th Ct in Homestead has been sold for $82,750,000. The transaction took place on January 7, 2022. The property spans approximately 298,000 square feet, resulting in a price per square foot of $278.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $82,750,000
- Address: 2400 NE 10th Ct, Homestead
- Market: Homestead
The buyer of the property is Wharton Realty Group, while the sellers include CREC Capital represented by Alan Esquenazi and Warren Weiser, Highline Real Estate Capital represented by David Moret and Andrew Remick, MMG Equity Partners represented by Gabe Navarro, and Lubert-Adler Real Estate.
The deal was facilitated by brokers Danny Finkle and Eric Williams from JLL.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,413,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$293,993.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$392,277.22
Annual Debt Service$4,707,326.60
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