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Lothar Estein Of Estein USA Acquires Dunwoody Office Tower For $175M
SOLD
Georgia
See Similar DealsOffice
Sold 08/30/2023
SOLD
Lothar Estein Of Estein USA Acquires Dunwoody Office Tower For $175M
3 Ravinia Drive Atlanta, GA 30346, USA
See Similar DealsOffice
Sold 08/30/2023
Summary
GEORGIA
Asset Type:Office
Transaction Type:Sale
Estein USA has acquired 3 Ravinia Drive, Dunwoody's tallest office tower, for $175 million. This transaction marks one of the largest office acquisitions in metro Atlanta this year. The property is located at 3 Ravinia Drive in Dunwoody, GA and offers impressive characteristics.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $175,000,000
- Address: 3 Ravinia Drive, Dunwoody, GA
- Market: Dunwoody, GA
- Buyer: Lothar Estein - Estein USA
- Seller: Frank Cohen - Blackstone REIT
Lothar Estein, representing Estein USA, sealed the deal as the buyer of 3 Ravinia Drive, while Frank Cohen from Blackstone REIT acted as the seller. This acquisition demonstrates Estein USA's strong position in the market and highlights their commitment to expanding their presence in the Atlanta area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$621,738.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$829,589.28
Annual Debt Service$9,955,071.37
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