RPT Realty Acquires Retail Property In Brickell For $216M With JLL's Danny Finkle, Chris Angelone, Eric Williams, Kim Flores, Cameron Beck & Michael Kavaler As Brokers
SOLD
$216,000,000
+ 3
Florida
See Similar DealsRetail200,503 SF
Sold 07/07/2022
SOLD
RPT Realty Acquires Retail Property In Brickell For $216M With JLL's Danny Finkle, Chris Angelone, Eric Williams, Kim Flores, Cameron Beck & Michael Kavaler As Brokers
900 South Miami Avenue
See Similar DealsRetail200,503 SF
Sold 07/07/2022
+ 3
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,077
Total Square Footage:200,503 SF
Transaction Type:Sale
The retail property located at 900 S Miami Ave in Brickell has been sold in a closed transaction. The property spans 200,503 square feet and was sold for a price of $216,000,000, resulting in a price per square foot of $1,077. The transaction took place on July 7, 2022.
Summary of transaction details
- Property Type: Retail
- Sale Price: $216,000,000
- Square Footage: 200,503
- Price Per Square Foot: $1,077
- Address: 900 S Miami Ave, Brickell
The buyer of the property was RPT Realty, while the sellers were Rockpoint Group and Ivanhoe Cambridge. The transaction was facilitated by the brokers Danny Finkle, Chris Angelone, Eric Williams, Kim Flores, Cameron Beck, and Michael Kavaler from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,520,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$767,402.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,023,950.20
Annual Debt Service$12,287,402.38
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