Knightbridge Capital And Westside Investment Partners Acquire Office Buildings In Greenwood Village For $14.3M
8390 East Crescent Parkway & 8350 East Crescent Parkway
$14,300,000
$32/SF
Building Size
440,000 SF
Asset Type
Office
Closing
Jul 9, 2024
AI
Two office buildings at 8390 and 8350 East Crescent Parkway in Greenwood Village, CO, were sold for $14,300,000. The properties encompass a total of 220,000 square feet, with a price per square foot of $65. The buildings feature amenities including grand lobby entrances, covered parking, a shared amphitheater, and water features.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,300,000
- Buyer: Knightbridge Capital & Westside Investment Partners
- Seller: American National Insurance
- Broker Representatives: Larry Thiel & Sean Whitney - JLL
Representing the seller in this transaction were brokers Larry Thiel and Sean Whitney from JLL. The sale marks a significant decrease from the $47.5 million spent by American National Insurance for the properties in 2014 and 2015.
Players
Greenwood Village 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
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93