MG3 Reit LLC Acquires Office Property In Jacksonville For $43.8M
6651 Gate Parkway, Jacksonville, FL, USA
$43,800,000
$363/SF
Building Size
120,407 SF
Asset Type
Office
Closing
Aug 18, 2020
About this deal
AI
An office property located at 6651 Gate Parkway in Jacksonville was recently sold in a transaction valued at $43,800,000. The property spans 120,407 square feet and was sold at a price per square foot of $364. The sale took place on August 18, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $43,800,000
- Address: 6651 Gate Parkway, Jacksonville
- Market: Jacksonville
- Buyer: MG3 Reit LLC
- Seller: Real Capital Solutions
- Brokers: Mike Davis, Karl Johnston, Rick Brugge, Rick Colon, Dominic Montazemi, Zach Eicholtz, and Chloe Strada - Cushman & Wakefield
The sale was facilitated by a team of brokers from Cushman & Wakefield, including Mike Davis, Karl Johnston, Rick Brugge, Rick Colon, Dominic Montazemi, Zach Eicholtz, and Chloe Strada. They represented the buyer and seller in the transaction.
Players
Jacksonville 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93