Bridge Investment Group Acquires Tampa Office Property For $56.5M
SOLD
$56,500,000
Florida
See Similar DealsOffice253,922 SF
Sold 11/13/2020
SOLD
Bridge Investment Group Acquires Tampa Office Property For $56.5M
1 N Dale Mabry Hwy, Tampa, FL 33609, Estados Unidos
See Similar DealsOffice253,922 SF
Sold 11/13/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$222
Total Square Footage:253,922 SF
Transaction Type:Sale
A 253,922 square foot office property located at 1 N. Dale Mabry Highway in Tampa has been sold for $56,500,000. The transaction took place on November 13, 2020. The property was purchased by Bridge Investment Group, represented by Christian Young, while the seller was Angelo Gordon. Eastdil Secured acted as the broker in the deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $56,500,000
- Square Footage: 253,922
- Price per Square Foot: $223
- Address: 1 N. Dale Mabry Highway, Tampa
- Buyer: Christian Young (Bridge Investment Group)
- Seller: Angelo Gordon
- Broker: Eastdil Secured
Christian Young of Bridge Investment Group represented the buyer in this transaction. Eastdil Secured, the broker involved in the deal, facilitated the sale of the office property at 1 N. Dale Mabry Highway in Tampa.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$200,732.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$267,838.82
Annual Debt Service$3,214,065.90
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