Redwood Capital Investments & Allegis Group Acquire Retail Properties In Tamarac & Margate For $60.5M
5901 Madison Avenue, Tamarac, FL, USA
$60,500,000
Building Size
—
Asset Type
Retail
Closing
Sep 24, 2020
About this deal
AI
The retail property located at 5901 Madison Avenue & 2250 North State Road 7 in Tamarac & Margate was recently sold for $60,500,000. The transaction took place on September 25, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $60,500,000
The buyer of the property was Redwood Capital Investments and Allegis Group represented by Jim Davis and Steve Bisciotti. On the other hand, the seller was Arrigo Automotive Group, with Jim and John Arrigo as the representatives in the deal.
Players
Tamarac Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93