Altis Cardinal Acquires Office In St. Petersburg For $40M
3201 34th Street South, St. Petersburg, Florida 33711, United States
$40,000,000
$758/SF
Building Size
52,759 SF
Asset Type
Office
Closing
Dec 16, 2021
About this deal
AI
The office property located at 3201 34th Street S in St. Petersburg has been sold for $40,000,000. Spanning across a total of 34 acres, this office asset offers a significant amount of space for various business operations in the area. The sale was finalized on December 16, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $40,000,000
- Address: 3201 34th Street S
- Market: St. Petersburg
- Acres: 34
Altis Cardinal, represented by Frank Guerra & Alberto Suarez, acted as the buyer in this transaction. They recognized the potential of this office property and seized the opportunity to acquire it for their business interests. The involvement of Altis Cardinal highlights their strategic approach to expanding their real estate portfolio. Frank Guerra & Alberto Suarez served as the representatives of Altis Cardinal in this deal.
Players
Saint Petersburg 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93