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Virtus Real Estate Capital Acquires Medical Office In Phoenix, AZ For $48.5M
SOLD
$48,500,000
+ 2
Arizona
See Similar DealsOther70,000 SF
Sold 04/26/2023
SOLD
Virtus Real Estate Capital Acquires Medical Office In Phoenix, AZ For $48.5M
4200 East Camelback Road Phoenix, Arizona 85018, USA
See Similar DealsOther70,000 SF
Sold 04/26/2023
+ 2
Summary
ARIZONA
Asset Type:Other
Price Per Square Foot:$692
Total Square Footage:70,000 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$172,310.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$229,914.74
Annual Debt Service$2,758,976.92
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