Mori Trust Co Acquires Office Building In Washington, DC For $531M
SOLD
$531,000,000
District Of Columbia
See Similar DealsOffice479,000 SF
Sold 09/01/2022
SOLD
Mori Trust Co Acquires Office Building In Washington, DC For $531M
601 Massachusetts Avenue Northwest, Washington, District Of Columbia 20001, United States
See Similar DealsOffice479,000 SF
Sold 09/01/2022
Summary
Asset Type:Office
Price Per Square Foot:$1,108
Total Square Footage:479,000 SF
Transaction Type:Sale
The office property located at 601 Massachusetts Avenue NW in Washington, DC has been sold. The transaction took place on September 1, 2022. The property spans 479,000 square feet and was sold for a total price of $531,000,000, resulting in a price per square foot of $1,109.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $531,000,000
- Square Footage: 479,000
- Price per Square Foot: $1,109
- Address: 601 Massachusetts Avenue NW, Washington, DC
- Market: Washington, DC
Mori Trust Co is the buyer involved in this office property transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$28,320,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,886,530.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,517,210.90
Annual Debt Service$30,206,530.84
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