Metropolitan Realty Associates Acquires Industrial Property In South Windsor, CT For $50M
SOLD
$50,000,000
Connecticut
See Similar DealsIndustrial304,249 SF
Sold 02/23/2021
SOLD
Metropolitan Realty Associates Acquires Industrial Property In South Windsor, CT For $50M
456 Sullivan Avenue, South Windsor, CT, USA
See Similar DealsIndustrial304,249 SF
Sold 02/23/2021
Summary
CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$164
Total Square Footage:304,249 SF
Transaction Type:Sale
The industrial property located at 456 Sullivan Avenue in South Windsor, CT was recently sold in a transaction valued at $50,000,000. The property spans 304,249 square feet, resulting in a price per square foot of $164. The sale took place on 02/23/2021.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $50,000,000
- Address: 456 Sullivan Avenue, South Windsor, CT
- Market: South Windsor, CT
The seller of the property was FEM Sullivan Road LLC, while the buyer was Metropolitan Realty Associates, represented by Joseph Farkas, and Clarion Partners through its Clarion Partners Real Estate Income Fund (CPREIF), represented by Gary Rufrano. The brokers involved in the transaction were Matt Berres and Samer Khalil from Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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