Edgewood REIT Acquires Office Property In Scottsdale, AZ For $85M
SOLD
$85,000,000
Arizona
See Similar DealsOffice
Sold 07/07/2022
SOLD
Edgewood REIT Acquires Office Property In Scottsdale, AZ For $85M
8660 East Hartford Drive, Scottsdale, Arizona 85255, United States
See Similar DealsOffice
Sold 07/07/2022
Summary
ARIZONA
Asset Type:Office
Transaction Type:Sale
An office property located at 8660 E Hartford Dr and 16767 N Perimeter Dr in Scottsdale, AZ has been sold in a transaction. The property was sold for a total price of $85,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $85,000,000
The buyer of the property is Edgewood Real Estate Investment Trust. The sellers of the property are Wentworth Property Company and Northwood Investors. The transaction was facilitated by the brokers Barry Gabel and Chris Marchildon from CBRE.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$301,987.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$402,943.36
Annual Debt Service$4,835,320.38
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