RPT Realty Acquires Retail Property In Miami For $216M From Seller Rockpoint Group
SOLD
$216,000,000
+ 6
Florida
See Similar DealsRetail200,503 SF
Sold 07/12/2022
SOLD
RPT Realty Acquires Retail Property In Miami For $216M From Seller Rockpoint Group
900 South Miami Avenue, Miami, Florida 33130, United States
See Similar DealsRetail200,503 SF
Sold 07/12/2022
+ 6
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,077
Total Square Footage:200,503 SF
Transaction Type:Sale
A retail property located at 900-901 South Miami Avenue & 911 Southwest First Avenue in Miami has been sold in a transaction. The property spans 5.1 acres and is situated in the Miami market. The sale occurred on 07/12/2022, with Brian Harper capturing an image of the property.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $216,000,000
- Square Footage: 539,722
- Price Per Square Foot: $400
- Buyer: RPT Realty - Brian Harper
- Seller: Rockpoint Group - Bill Walton & Keith Gelb
RPT Realty, represented by Brian Harper, acted as the buyer in this transaction. The seller was Rockpoint Group, and the deal was facilitated by Bill Walton and Keith Gelb. The sale price for the retail property was $216,000,000, with a total area of 539,722 square feet and a price per square foot of $400. This transaction marks an important development in the Miami market.
Players
LENDER
Details
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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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