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.
On the Map
$14,800,000
$426/SF
Medical Office
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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