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Ridgeline Capital Partners Acquires Medical Office Portfolio For $22.5M In Atlanta, East Point, Macon, Pasco, And Twin Falls

Property Image
SOLD
$22,500,000
Brannan Knott
Alex Sharrin
+ 1

Georgia

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72,158 SF
Sold 10/12/2022
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Property Image
SOLD

Ridgeline Capital Partners Acquires Medical Office Portfolio For $22.5M In Atlanta, East Point, Macon, Pasco, And Twin Falls

3620 Martin Luther King Jr Drive Southwest, Atlanta, Georgia 30331, United States

See Similar Deals
72,158 SF
Sold 10/12/2022
Brannan Knott
Alex Sharrin
+ 1
Contact now

Summary

GEORGIA
Price Per Square Foot:$311
Total Square Footage:72,158 SF
Transaction Type:Sale

A medical office located at 3620 Martin Luther King Jr. Dr. SW, 2669 Church St, and 2494 Second St in Atlanta, East Point, and Macon, GA, along with 6825 Burden Blvd and 582 N. Pole Line Road in Pasco, WA and Twin Falls, ID, has been sold in a transaction. The property encompasses a total of 72,158 square feet and was sold for a price of $22,500,000, resulting in a price per square foot of $312. The sale was facilitated by Brannan Knott, Alex Sharrin, Alex Geanakos, Jeffrey Cicurel, and Will Bowater of JLL, representing the buyer Ridgeline Capital Partners, LLC, and the seller Platform Ventures.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $22,500,000
  • Square Footage: 72,158
  • Price per Square Foot: $312
  • Address: 3620 Martin Luther King Jr. Dr. SW, 2669 Church St, and 2494 Second St, Atlanta, East Point, and Macon, GA; 6825 Burden Blvd and 582 N. Pole Line Road, Pasco, WA and Twin Falls, ID
  • Market: Atlanta, East Point, and Macon, GA; Pasco, WA and Twin Falls, ID

The transaction involved the buyer, Ridgeline Capital Partners, LLC, and the seller, Platform Ventures. Brannan Knott, Alex Sharrin, Alex Geanakos, Jeffrey Cicurel, and Will Bowater from JLL represented both parties in the deal.

Players

Alex Geanakos
13 deals$148.3M volume
BROKER

Alex Sharrin
JLL
35 deals$908M volume(305) 913-5545
BROKER

Brannan Knott
CBRE
16 deals$1.1B volume(443) 983-6039
BROKER

Jeffrey Cicurel
JLL
14 deals$244.3M volume(773) 573-8118
BROKER

BUYER

Details

SOLD
IMAGE: Brannan Knott, Alex Sharrin, Alex Geanakos, & Jeffrey Cicurel DATE: 10/12/2022 ADDRESS: 3620 Martin Luther King Jr. Dr. SW, 2669 Church St & 2494 Second St, 6825 Burden Blvd; 6825 Burden Blvd & 582 N. Pole Line Road MARKET: Atlanta, East Point & Macon, GA; Pasco, WA & Twin Falls, ID ASSET TYPE: Medical Office BUYER: Ridgeline Capital Partners, LLC SELLER: Platform Ventures BROKERS: Brannan Knott, Alex Sharrin, Alex Geanakos, Jeffrey Cicurel & Will Bowater - JLL SALE PRICE: $22,500,000 SF: 72,158 ~ PPSF: $312

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

$1,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75