International Management Company Acquires Village Professional Center In Ponte Vedra Beach For $13.7M
13000 Sawgrass Village Cir Ponte Vedra Beach, FL 32082, USA
$13,700,000
$285/SF
Building Size
47,965 SF
Asset Type
Office
Closing
Jun 22, 2023
About this deal
AI
International Management Company (IMC) has purchased the Village Professional Center, a nine-building office and medical property located at 13000 Sawgrass Village Circle in Ponte Vedra Beach, for a total of $13.7 million. The property spans a total of 47,965 square feet, resulting in a price per square foot of $286.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $13,700,000
- Square Footage: 47,965
- Price per Square Foot: $286
- Address: 13000 Sawgrass Village Circle, Ponte Vedra Beach
- Market: Ponte Vedra Beach
Brett McKee, representing International Management Company, facilitated this acquisition. The purchase of the Village Professional Center by IMC aligns with their plans to enhance the property and provide a desirable working environment for businesses in need of office spaces.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93