facebook

traded

+ Submit
Home

/

Deals

/

Georgia

/

All

/

Sale

/

3620 Martin Luther King Jr ...

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

$22,500,000

$311/SF

Building Size

72,158 SF

Asset Type

Closing

Oct 11, 2022

AI

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

JLL

Broker

$148.3M

vol

13 deals

Broker
RL
Ridgeline Capital Partners, LLCBuyer
PV
Platform VenturesSeller

Atlanta CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93