Zurich Alternative Asset Management Acquires Coral Gables Retail Property For $46.75M
6701 Red Rd, Coral Gables, FL 33146, USA
$46,750,000
$77/SF
Building Size
600,000 SF
Asset Type
Retail
Closing
May 20, 2020
AI
The property involved in this transaction is a retail asset located at 6701 Red Road in Coral Gables. The property spans 60,000 square feet and was sold for a price of $46,750,000, resulting in a price per square foot of $783.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $46,750,000
- Address: 6701 Red Road
- Market: Coral Gables
The buyer in this transaction is Zurich Alternative Asset Management, represented by Sean Bannon. The seller is Prudential Insurance Company of America. The deal was facilitated by brokers Danny Finkle, Luis Castillo, and Eric Williams from JLL.
Players
South Miami 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93