Edgewood REIT Acquires Office Property In Scottsdale, AZ For $85M
8660 East Hartford Drive, Scottsdale, Arizona 85255, United States
$85,000,000
Building Size
—
Asset Type
Office
Closing
Jul 6, 2022
About this deal
AI
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.
On the Map
$85,000,000
Office
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Players
Scottsdale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93