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27000 S Dixie Hwy, Homestea...

MMG Equity Partners Acquires Homestead Shopping Center For $7.1M
SOLDRetail

MMG Equity Partners Acquires Homestead Shopping Center For $7.1M

27000 S Dixie Hwy, Homestead, FL, USA

$7,100,000

$138/SF

Building Size

51,246 SF

Asset Type

Retail

Closing

Jan 14, 2020

AI

A shopping center located at 27000 South Dixie Highway in Homestead has been sold for $7,100,000. The property spans an area of 51,246 square feet with a price per square foot of $139. The sale was completed on January 15, 2020, with MMG Equity Partners, represented by Marcos Puente and Gabriel Navarro, acquiring the property from D&G Properties.

Summary of transaction details

  • Property Type: Shopping center
  • Transaction Amount: $7,100,000
  • Address: 27000 South Dixie Highway, Homestead
  • Market: Homestead
  • Buyer: MMG Equity Partners - Marcos Puente, Gabriel Navarro
  • Seller: D&G Properties
  • Square Footage: 51,246
  • Price per Square Foot: $139

MMG Equity Partners, represented by Marcos Puente and Gabriel Navarro, successfully acquired the shopping center located at 27000 South Dixie Highway in Homestead from D&G Properties. The deal was closed on January 15, 2020, for a total price of $7,100,000. This transaction marks another successful investment for MMG Equity Partners in the Homestead market.

Players

Marcos Puente

MMG Equity Partners

Buyer

$155.4M

vol

17 deals

Buyer
GP
G&D PropertiesSeller

Homestead 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

2.23%

Cash-on-Cash

-0.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93