Eden Enterprises LP Acquires Property At 5731 N Academy Blvd For $7.2M With Jae Kim As Buyer's Rep
5731 N Academy BLVD, Colorado Spri...
$7,200,000
$233/SF
Building Size
30,843 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property asset involved in the transaction is an office building located at 5731 N Academy Blvd, Colorado Springs, which was sold for $7,200,000.00. The building encompasses a total square footage of 30,843 and is situated within the Centerpointe Plaza shopping center, benefiting from its location and accessibility. It is occupied by three tenants from the medical, fitness, and education sectors.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $7,200,000.00
- Square Footage: 30,843
- Buyer: Eden Enterprises LP
- Seller: Silverwood Investments LP
- Buyer’s Representative: Jae Kim - Remax
- Seller’s Representative: Matthew (Matt) McAllister - Cushman & Wakefield
In this transaction, Jae Kim represented the buyer, Eden Enterprises LP, while Matthew (Matt) McAllister represented the seller, Silverwood Investments LP. This off-market sale reflects a strategic move for both parties involved in the deal, showcasing their business objectives within the Colorado Springs market.
Players
Colorado Springs Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93