Virtus Real Estate Capital Acquires Medical Office In Phoenix, AZ For $48.5M
4200 East Camelback Road Phoenix, Arizona 85018, USA
$48,500,000
$692/SF
Building Size
70,000 SF
Asset Type
Other
Closing
Apr 26, 2023
AI
A medical office located at 4200 E Camelback Rd in Phoenix, AZ has been sold in a recently closed transaction.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $48,500,000
- Square Footage: 70,000
- Price Per Square Foot: $693
- Address: 4200 E Camelback Rd, Phoenix, AZ
- Market: Phoenix, AZ
Virtus Real Estate Capital acquired the medical office property from RED Development. The transaction was facilitated by JLL, with Andrew Milne, Liam Sorensen, Ben Geelan, Kevin MacKenzie, and Will Mast representing the parties involved in the deal.
Players
Phoenix Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93