Lockwood Development Partners Acquires Medical Office In Alpharetta, GA For $21.1M
11680 Great Oaks Way Alpharetta, Georgia 30022, USA
$21,100,000
$131/SF
Building Size
160,539 SF
Asset Type
Other
Closing
Jun 5, 2023
About this deal
AI
Lockwood Development Partners has acquired the Royal Ridge office building located at 11680 Great Oaks Way in Alpharetta, Georgia. The transaction took place on June 5, 2023, with a sale price of $21.1 million. The property, with a total area of 160,539 square feet, is a medical office situated on 13.2 acres. The price per square foot for this transaction was $131.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $21,100,000
- Address: 11680 Great Oaks Way, Alpharetta, GA
- Market: Alpharetta, GA
- Acres: 13.2
The buyer in this transaction was Lockwood Development Partners, while the seller was Richmond Honan.
Note: Lockwood Development Partners has acquired the Royal Ridge office building in Alpharetta, Georgia for $21.1 million.
On the Map
$21,100,000
$131/SF
Other
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Alpharetta Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93