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Made Capital & M3 Equities Acquire Milford Office Asset For $15.5M

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SOLD
$15,500,000

Connecticut

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Office445,278 SF
Sold 12/31/2021
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Property Image
SOLD

Made Capital & M3 Equities Acquire Milford Office Asset For $15.5M

488 Wheelers Farm Road, Orange, Connecticut 06477, United States

See Similar Deals
Office445,278 SF
Sold 12/31/2021
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Summary

CONNECTICUT
Asset Type:Office
Price Per Square Foot:$34
Total Square Footage:445,278 SF
Transaction Type:Sale

The office property at 470-488 Wheelers Farm Road in Milford, CT has been sold in a transaction. The property spans a total of 445,278 square feet and was sold at a price of $15,500,000, resulting in a price per square foot of $34. The sale took place on December 31, 2021.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $15,500,000
  • Address: 470-488 Wheelers Farm Road, Milford, CT
  • Market: Milford, CT
  • Buyer: Made Capital & M3 Equities
  • Seller: COBA, Inc
  • Buyer's Representative: Mark DiFranco - DiFranco Realty Inc.
  • Seller's Representative: Christopher Mahoney - Keen-Summit
  • Mortgage Broker: Ben Schwartz - Eastern Union Funding

The sale of this office property was facilitated by the buyer's representative, Mark DiFranco of DiFranco Realty Inc. The seller's representative in the deal was Christopher Mahoney of Keen-Summit. Ben Schwartz of Eastern Union Funding served as the mortgage broker in the transaction.

Players

Ben Schwartz
5 deals$39.8M volume
BROKER

Mark DiFranco
1 deal$15.5M volume
BROKER

Christopher Mahoney
1 deal$15.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: Ben Schwartz, Christopher Mahoney & Mark DiFranco DATE: 12/31/2021 ADDRESS: 470-488 Wheelers Farm Road MARKET: Milford, CT ASSET TYPE: Office BUYER: Made Capital & M3 Equities SELLER: COBA, Inc BUYER’S REP: Mark DiFranco - DiFranco Realty Inc. SELLER’S REP: Christopher Mahoney - Keen-Summit MORTGAGE BROKER: Ben Schwartz - Eastern Union Funding SALE PRICE: $15,500,000 SF: 445,278 ~ PPSF: $34

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$826,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89