HGA Management Acquires Retail Property In Homestead For $23.5M
2551 Northeast 9th Court
$23,530,000
$325/SF
Building Size
72,301 SF
Asset Type
Retail
Closing
Jul 26, 2022
AI
A retail property located at 2551 NE 9th Ct in Homestead has been sold for $23,530,000. The property spans 72,301 square feet, resulting in a price per square foot of $325.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,530,000
- Address: 2551 NE 9th Ct
- Market: Homestead
- Buyer: Jeffrey W. Wells - HGA Management
- Seller: CREC Capital - Alan Esquenazi & Warren Weiser; Highline Real Estate Capital - David Moret & Andrew Remick; MMG Equity Partners - Gabe Navarro; Lubert-Adler Real Estate
- Broker: Patrick Nutt - SRS
- Square Footage: 72,301
- Price per Square Foot: $325
The transaction involved several key individuals and companies. The buyer, Jeffrey W. Wells, was represented by HGA Management. The seller was a consortium of entities, including 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 broker in the deal was Patrick Nutt from SRS.
Players
Pompano Beach 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93