Charter Realty & Development And Rialto Capital Acquire Mixed-Use Property In West Hartford, CT For $40.5M
SOLD
$40,500,000
+ 2
Connecticut
See Similar DealsMixed-use445,661 SF
Sold 06/10/2020
SOLD
Charter Realty & Development And Rialto Capital Acquire Mixed-Use Property In West Hartford, CT For $40.5M
65 Memorial Rd, West Hartford, CT, USA
See Similar DealsMixed-use445,661 SF
Sold 06/10/2020
+ 2
Summary
CONNECTICUT
Asset Type:Mixed-use
Price Per Square Foot:$90
Total Square Footage:445,661 SF
Transaction Type:Sale
The mixed-use property located at 65 Memorial Rd in West Hartford, CT has been sold. The transaction took place on June 10, 2021. The property spans a total area of 445,661 square feet and is situated on 6.4 acres. The sale price for this property was $40,500,000, resulting in a price per square foot of $91. The price per acre was approximately $6,328,125.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $40,500,000
- Address: 65 Memorial Rd, West Hartford, CT
- Market: West Hartford, CT
- Total Square Footage: 445,661
- Price per Square Foot: $91
- Total Acres: 6.4
- Price per Acre: $6,328,125
The buyers of this property were Charter Realty & Development and Rialto Capital. The deal was facilitated by the brokers Chris Angelone, Zach Nitsche, Nat Heald, Dave Monahan, and Sean O’Neil from JLL.
Players
BUYER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,887.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,990.66
Annual Debt Service$2,303,887.95
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