TMT Properties Acquires Office Asset From IP Capital Partners In Jacksonville For $23.5M
8657 Baypine Rd
$23,500,000
$95/SF
Building Size
246,511 SF
Asset Type
Office
Closing
Dec 14, 2021
About this deal
AI
The asset involved in this transaction is an office property located at 8657 Baypine Rd, Jacksonville. The transaction allowed for a sale price of $23,500,000.00 and encompassed a total square footage of 246,511.0.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $23,500,000.00
- Address: 8657 Baypine Rd
- Market: Jacksonville
- Square Footage: 246,511.0
- Buyer: TMT PROPERTIES
- Seller: IP CAPITAL PARTNERS
- Broker: TYLER KUHLMAN
Key individuals in this transaction include the buyer, TMT PROPERTIES, and the seller, IP CAPITAL PARTNERS, with Tyler Kuhlman serving as the broker in the deal.
On the Map
$23,500,000
$95/SF
Office
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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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93