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3280 Howell Mill Road North...

Lincoln Advisors Acquires Medical Office In Atlanta For $71.8M
SOLD

Lincoln Advisors Acquires Medical Office In Atlanta For $71.8M

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

$71,800,000

$481,879/SF

Building Size

149 SF

Asset Type

Closing

Nov 11, 2022

AI

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

CBRE

Broker

$2.1B

vol

8 deals

Broker

Harrison Street

Seller

$604.1M

vol

11 deals

Seller

Atlanta CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93