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Lincoln Advisors Acquires Medical Office In Atlanta For $71.8M

Property Image
SOLD
$71,800,000
Trent Jemmett
Jordan Selbiger
+ 2

Georgia

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149 SF
Sold 11/11/2022
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Property Image
SOLD

Lincoln Advisors Acquires Medical Office In Atlanta For $71.8M

3280 Howell Mill Road Northwest, Atlanta, Georgia 30327, United States

See Similar Deals
149 SF
Sold 11/11/2022
Trent Jemmett
Jordan Selbiger
+ 2
Contact now

Summary

GEORGIA
Price Per Square Foot:$481,879
Total Square Footage:149 SF
Transaction Type:Sale

The medical office located at 3280 Howell Mill Road NW in Atlanta, GA has been sold for a total of $71,800,000. The property spans a total of 149,202 square feet, resulting in a price per square foot of $481. The transaction took place on November 11, 2022. The buyer, Lincoln Advisors, acquired the property from the sellers, Harrison Street and HealthAmerica Realty Group.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $71,800,000
  • Address: 3280 Howell Mill Road NW, Atlanta, GA
  • Market: Atlanta, GA
  • Buyer: Lincoln Advisors
  • Seller: Harrison Street and HealthAmerica Realty Group
  • Brokers: Lee Asher, Zach Holderman, Jordan Selbiger, Trent Jemmett, and Cole Reethof from CBRE
  • Square Footage: 149,202
  • Price per Square Foot: $481

The deal was facilitated by the team of brokers from CBRE, including Lee Asher, Zach Holderman, Jordan Selbiger, Trent Jemmett, and Cole Reethof. They represented both the buyer, Lincoln Advisors, and the sellers, Harrison Street and HealthAmerica Realty Group, in the transaction.

Players

Lee Asher
8 deals$2.1B volume
BROKER

Jordan Selbiger
CBRE
8 deals$2.1B volume
BROKER

Trent Jemmett
CBRE
6 deals$900M volume
BROKER

Cole Reethof
CBRE
10 deals$442.3M volume
BROKER


11 deals$604.1M volume
SELLER

11 deals$604.1M volume
SELLER

11 deals$604.1M volume
SELLER

Details

SOLD
IMAGE: Lee Asher, Zach Holderman, Jordan Selbiger, Trent Jemmett & Cole Reethof DATE: 11/11/2022 ADDRESS: 3280 Howell Mill Road NW MARKET: Atlanta, GA ASSET TYPE: Medical Office BUYER: Lincoln Advisors SELLER: Harrison Street & HealthAmerica Realty Group BROKERS: Lee Asher, Zach Holderman, Jordan Selbiger, Trent Jemmett & Cole Reethof - CBRE SALE PRICE: $71,800,000 SF: 149,202 ~ PPSF: $481

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,829,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$255,090.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$340,368.63
Annual Debt Service$4,084,423.57