Tricera Capital Acquires Sarasota Office Property From George Spector For $35 Million
1800 2nd St
$35,000,000
$146/SF
Building Size
238,859 SF
Asset Type
Office
Closing
Jan 28, 2021
About this deal
AI
The property asset involved in the transaction is an office located at 1800 2nd St, Sarasota. The office comprises a total square footage of 238,859. The transaction occurred at a price of $35,000,000.00.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $35,000,000.00
- Address: 1800 2nd St
- Market: Sarasota
- Square Footage: 238,859.0
- Buyer: Tricera Capital
- Seller: George Spector
- Broker: Tyler Kuhlman
Key individuals involved in the transaction include the buyer, Tricera Capital, and the seller, George Spector. The broker representing the deal is Tyler Kuhlman.
On the Map
$35,000,000
$146/SF
Office
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Players
Sarasota 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93