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Kairos Investment Management Co Acquires Office Building In Washington, DC For $36M
SOLD
$36,000,000
Office178,000 SF
Sold 12/29/2023
SOLD
Kairos Investment Management Co Acquires Office Building In Washington, DC For $36M
1250 I Street Northwest
See Similar DealsOffice178,000 SF
Sold 12/29/2023
Summary
Asset Type:Office
Price Per Square Foot:$202
Total Square Footage:178,000 SF
Transaction Type:Sale
An affiliate of Kairos Investment Management Co., based in Irvine, California, has acquired the downtown D.C. office building at 1250 Eye St. NW for $36 million. The property, located in Washington, DC, is an office building with a total square footage of 178,000. The sale price per square foot was $202.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $36,000,000
- Address: 1250 Eye St. NW
- Market: Washington, DC
Carl Chang of Kairos Investment Management Co. represented the buyer in this transaction, while Doug Donatelli and Nick Smith of DSC Partners LLC represented the seller. The deal was closed on December 29, 2023.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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