Updated Oct 29, 2024
HR Assets Acquires Property At 9218 Kimmer Dr Lone Tree For $14.8M With Doug Wulf As Seller's Rep
9218 Kimmer Dr, Lone Tree, CO, 80124
$14,800,000
$426/SF
Building Size
34,685 SF
Asset Type
Medical Office
Closing
Nov 19, 2023
About this deal
AI
HR Assets has acquired Park Meadows Medical Center, a multi-tenant medical office property located at 9218 Kimmer Drive in Lone Tree, Colorado. The three-story building encompasses 34,685 square feet and features medical office space along with a surgery center. At the time of sale, the property was fully occupied, reflecting strong demand in the Lone Tree market. The transaction occurred off-market for a total price of $14.8 million.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $14,800,000.00
- Address: 9218 Kimmer Dr, Lone Tree, CO, 80124
- Market: Lone Tree
- Seller's Representative: Doug Wulf, William Lucas & Stuart Thomas-Cushman & Wakefield
- Buyer: HR Assets
- Square Footage: 34,685
- Occupancy Rate at Sale: 100%
William Lucas, Stuart Thomas, and Doug Wulf from Cushman & Wakefield’s Denver office represented the seller, Park Meadows Medical LLC, in the transaction, facilitating the exchange of this fully occupied medical office property.
Players
Lone Tree Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93