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Becovic Holdings Acquires Mixed-Use Property In East Moline For $9M

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SOLD
$9,000,000

Illinois

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Becovic Holdings Acquires Mixed-Use Property In East Moline For $9M

801 Bend Blvd, Moline, Illinois 61265, United States

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Mixed-use100,000 SF
Sold
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Summary

ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$90
Total Square Footage:100000 SF
Transaction Type:Sale

A mixed-use property located at 801 Bend Blvd in East Moline has been sold for a total of $9,000,000. The sale, which took place on 05/06/2022, involved 72 Class A apartments within a 100,000 square foot building. The buyer, Becovic Holdings, acquired the property from the seller, Vast Properties 801, LLC. The transaction was facilitated by broker Sean Daileg from Claim Realty.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $9,000,000
  • Address: 801 Bend Blvd
  • Market: East Moline

This successful transaction showcases the demand for new construction properties in the area. The 72 Class A apartments offer high-quality living spaces, contributing to the overall appeal of the property. With the involvement of Becovic Holdings as the buyer and Vast Properties 801, LLC as the seller, this deal highlights the trust and confidence placed in Sean Daileg of Claim Realty as the broker representing both parties.

Players

Sean Dailey
8 deals$56.4M volume(773) 954-0942
BROKER

SELLER

Details

SOLD
IMAGE: Sean Daileg DATE: 05/06/2022 ADDRESS: 801 Bend Blvd MARKET: East Moline ASSET TYPE: Mixed-use BUYER: Becovic Holdings SELLER: Vast Properties 801, LLC BROKER: Sean Daileg - Claim Realty SALE PRICE: $9,000,000 UNITS: 72 ~ PPU: $125,000 SF: 100,000 ~ PPSF: $90 NOTE FROM BROKER: New Construction 72 Class A apartments

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Operating Income
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Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
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