Paradigm Commercial Real Estate Facilitates $16.5M Acquisition Loan For Office Property In Farmington, CT
74 Batterson Park Rd Farmington, CT 06032, USA
$16,500,000
$73/SF
Building Size
224,551 SF
Asset Type
Office
Closing
Aug 9, 2023
AI
A property transaction involving an office asset in Farmington, CT has taken place at 74 & 76 Batterson Park Rd. The office space spans a total of 224,551 square feet and is part of an acquisition deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,500,000
- Loan Type: Acquisition
- Loan Terms: 5-year term, 6.43% fixed, 30-year amortization
The transaction was facilitated by Adrian Edery and Sara Frankel from Paradigm Commercial Real Estate, who served as brokers in the deal. They were instrumental in bringing together the buyer and seller, ensuring a smooth transaction process.
Players
Farmington Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93