Streamline Capital Group Acquires Phoenix Office Complex For $5 Million
2600 North 44th Street Phoenix, Az 85008, Usa
$5,000,000
$128/SF
Building Size
39,000 SF
Asset Type
Office
Closing
Jul 12, 2023
About this deal
AI
A two-building, 39,000-square-foot office complex in Phoenix has been sold to Streamline Capital Group, a new investment group in the East Valley. The property, located at 2600 North 44th Street, was acquired for a total of $5 million, at a price per square foot of $128.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,000,000
- Square Footage: 39,000
- Price per Square Foot: $128
- Address: 2600 North 44th Street, Phoenix, AZ
- Market: Phoenix, AZ
The buyers, Dave Hrizak, Frank Stirpe, and Scott Roney, representing Streamline Capital Group, led the acquisition of this office complex. With their new investment group, they aim to make their mark in the East Valley property market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93