MHC Bridgeport Owner LLC Acquires Office Building In Tampa For $40M
5201 West Kennedy Boulevard
$40,000,000
$221/SF
Building Size
180,247 SF
Asset Type
Office
Closing
Feb 23, 2023
About this deal
AI
The office property located at 5201 West Kennedy Boulevard in Tampa has been sold in a transaction worth $40,000,000. The property spans 180,247 square feet, resulting in a price per square foot of $222. The sale was completed on February 23, 2023.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $40,000,000
- Address: 5201 West Kennedy Boulevard, Tampa
- Market: Tampa
- Buyer: MHC Bridgeport Owner LLC, a JV Partnership between MHCommercial Real Estate Fund II - Neil E. Merin & Jordan Paul, and Siguler Guff & Company, LP - Adam Domanico
- Seller: FDG Bridgeport - Sergio G. Socolsky, CEO
MHC Bridgeport Owner LLC, a joint venture partnership between MHCommercial Real Estate Fund II represented by Neil E. Merin & Jordan Paul, and Siguler Guff & Company, LP represented by Adam Domanico, acted as the buyer in this transaction. On the other hand, FDG Bridgeport, represented by CEO Sergio G. Socolsky, was the seller.
Players
Market 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