Becovic Holdings Acquires Mixed-Use Property In East Moline For $9M
801 Bend Blvd, Moline, Illinois 61265, United States
$9,000,000
$90/SF
Building Size
100,000 SF
Asset Type
Mixed-use
Closing
May 5, 2022
About this deal
AI
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.
On the Map
$9,000,000
$90/SF
Mixed-use
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Players
Moline Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93