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Azora Exan Capital Acquires Office Property In Washington DC For $15.75 Million From ASB Real Estate Investments
SOLD
$15,750,000
Office84,393 SF
Sold 04/09/2025
SOLD
Azora Exan Capital Acquires Office Property In Washington DC For $15.75 Million From ASB Real Estate Investments
1666 Connecticut Avenue Northwest
See Similar DealsOffice84,393 SF
Sold 04/09/2025
Summary
Asset Type:Office
Price Per Square Foot:$186
Total Square Footage:84,393 SF
Transaction Type:Sale
Azora Exan Capital acquired an office property located at 1666 Connecticut Avenue Northwest in Washington, DC. The asset features a total of 84,393 square feet and was purchased for $15.75 million, translating to a price per square foot of $187.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,750,000
- Address: 1666 Connecticut Avenue Northwest
- Market: Washington, DC
- Seller: ASB Real Estate Investments
- Buyer: Azora Exan Capital
- Square Footage: 84,393
- Price per Square Foot: $187
The transaction involved Azora Exan Capital as the buyer and ASB Real Estate Investments as the seller. The sale was executed on April 9, 2025, marking a significant addition to Azora Exan Capital's portfolio in the Washington, DC market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$840,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,956.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,663.04
Annual Debt Service$895,956.42
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