Warburg Pincus' Chandler Joel Reedy Acquires SFR In Coral Gables For $7.75M With Reps From Engel & Völkers
SOLD
$7,750,000
Florida
See Similar DealsSingle Family Residence65,340 SF
Sold 04/28/2020
SOLD
Warburg Pincus' Chandler Joel Reedy Acquires SFR In Coral Gables For $7.75M With Reps From Engel & Völkers
300 Casuarina Concourse, Coral Gables, FL 33143, USA
See Similar DealsSingle Family Residence65,340 SF
Sold 04/28/2020
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$118
Total Square Footage:65,340 SF
Transaction Type:Sale
The property located at 300 Casuarina Concourse in Coral Gables has been sold in a closed transaction. The seller, James Kaufman, represented the Harold Noordhoek trust, while the buyer, Chandler Joel Reedy, was represented by Warburg Pincus. The deal was facilitated by brokers Lourdes Alatriste and Matthew Elliott of Engel & Völkers.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $7,750,000
- Square Footage: 65,340
- Price Per Square Foot: $118
- Address: 300 Casuarina Concourse, Coral Gables
- Market: Coral Gables
Chandler Joel Reedy, representing the buyer Warburg Pincus, successfully acquired the property. James Kaufman, acting on behalf of the Harold Noordhoek trust, sold the property. The transaction was facilitated by brokers Lourdes Alatriste and Matthew Elliott from Engel & Völkers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,534.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,738.95
Annual Debt Service$440,867.45
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