Denver Art Museum Foundation Acquires 1331 & 1321 Bannock Street Properties For $13.4M
1331 Bannock Street & 1321 Bannock Street
$13,400,000
Building Size
—
Asset Type
Office
Closing
Nov 7, 2023
About this deal
AI
The Denver Art Museum Foundation has acquired two properties in Denver, CO at 1331 Bannock Street and 1321 Bannock Street for a total of $13.4 million in a recent sale. The properties include an office building and a parking lot.
Summary of transation details
- Property Type: Office & Parking Lot
- Transaction Amount: $13,400,000
- Address: 1331 Bannock Street & 1321 Bannock Street, Denver, CO
- Seller: Affiliate of Panayes Dikeou
- Buyer: Denver Art Museum Foundation
The buyer, Denver Art Museum Foundation, has made this significant acquisition. The seller, Panayes Dikeou, facilitated the transaction as the representative for the affiliate selling the properties.
Players
Denver Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93