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RCG Ventures Holdings LLC Acquires Patton Creek Shopping Center In Hoover From Global Net Lease Inc For $9.22M
SOLD
$9,220,000
Alabama
See Similar DealsRetail
Sold 03/25/2025
SOLD
RCG Ventures Holdings LLC Acquires Patton Creek Shopping Center In Hoover From Global Net Lease Inc For $9.22M
4445 Creekside Avenue
See Similar DealsRetail
Sold 03/25/2025
Summary
ALABAMA
Asset Type:Retail
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 4445 Creekside Avenue in Hoover, AL. RCG Ventures Holdings LLC acquired the property for a price of $9,220,000. This acquisition forms part of a larger strategy, as RCG Ventures is involved in a multi-tenant retail portfolio purchase valued at $1.8 billion from Global Net Lease Inc.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,220,000
- Buyer: RCG Ventures Holdings LLC
- Seller: Global Net Lease Inc
- Sale Date: 03/25/2025
- Market: Hoover, AL
This transaction features RCG Ventures Holdings LLC as the buyer and Global Net Lease Inc as the seller. The deal highlights RCG Ventures' strategy in expanding their retail portfolio through significant investment in commercial assets.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$491,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,756.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,707.50
Annual Debt Service$524,490.05
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