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5780 South University Drive...

RK Centers Acquires Retail Portfolio In Davie From Edens For $28.65M
SOLDRetail

RK Centers Acquires Retail Portfolio In Davie From Edens For $28.65M

5780 South University Drive, Davie, Florida 33328, United States

$28,650,000

$361/SF

Building Size

79,276 SF

Asset Type

Retail

Closing

Dec 14, 2021

AI

The retail property located at 5780, 5810, and 5840 S University Dr in Davie has been sold in a recent transaction. Spanning across 10.3 acres, this retail asset offers a total square footage of 79,276. The property was sold by Edens to RK Centers, with the deal facilitated by Dennis Carson from CBRE.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $28,650,000
  • Address: 5780, 5810 & 5840 S University Dr
  • Market: Davie
  • Square Footage: 79,276

Andrew Zidar represented RK Centers as the buyer in this transaction. Meanwhile, Dennis Carson from CBRE acted as the broker in the deal. The sale price for the property was $28,650,000, resulting in a price per square foot of $361.

Players

Dennis Carson

CBRE

Broker

$419.3M

vol

14 deals

Broker
RK Centers
RK CentersBrokerage
Andrew Zidar

Andrew Zidar

RK Centers

Buyer

$150.6M

vol

6 deals

Buyer
Edens
EdensSeller

Davie Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.55%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93