MHCommercial Real Estate Fund II Acquires Property At 1641 Worthington Rd For $32.5M With Buyer's Reps Elizabeth Jones And John Strickroot
1641 Worthington Road
$32,500,000
$323/SF
Building Size
100,525 SF
Asset Type
Office
Closing
Apr 4, 2022
AI
The property asset involved in this transaction is located at 1641 Worthington Rd, West Palm Beach. The total sale price for this property amounted to $32,500,000.00, encompassing 100,525 square feet of space.
Summary of transaction details:
- Property Type: Commercial Real Estate
- Transaction Amount: $32,500,000.00
- Address: 1641 Worthington Rd, West Palm Beach
- Buyer: MHCommercial Real Estate Fund II
- Buyer’s Representative: Elizabeth Jones & John Strickroot - Shutts & Bowen
The transaction was facilitated by the buyer's representatives, Elizabeth Jones and John Strickroot from Shutts & Bowen, effectively representing MHCommercial Real Estate Fund II in this deal. Their involvement highlights the key roles that brokers play in commercial real estate transactions.
Players
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93