Anchor Health Properties Acquires Office Building In Palm Beach Gardens For $24.3M
3401 PGA Boulevard, West Palm Beach, FL 33410, USA
$24,300,000
$322/SF
Building Size
75,424 SF
Asset Type
Office
Closing
Jan 22, 2020
About this deal
AI
An office property located at 3401 PGA Boulevard in Palm Beach Gardens has been sold for $24,300,000. The property spans 75,424 square feet and was purchased at a price of $322 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $24,300,000
- Address: 3401 PGA Boulevard
- Market: Palm Beach Gardens
Anchor Health Properties, represented by Ben Ochs, acquired the property from Gardens Medical Pavilion LLC, which is part of the Lightstone Group. The sale was facilitated by brokers Scott O’Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller, and Miguel Alcivar of Cushman & Wakefield.
On the Map
$24,300,000
$322/SF
Office
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Players
Palm Beach Gardens 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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93