Jenel Real Estate Acquires Retail Property In Fairview From Acadia Realty Trust For $40.8M
SOLD
$40,800,000
Illinois
See Similar DealsRetail272,060 SF
Sold 06/08/2022
SOLD
Jenel Real Estate Acquires Retail Property In Fairview From Acadia Realty Trust For $40.8M
6165 N Illinois St, Fairview Heights, IL 62208, United States
See Similar DealsRetail272,060 SF
Sold 06/08/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$150
Total Square Footage:272,060 SF
Transaction Type:Sale
The retail property located at 165 North Illinois St in Fairview has been sold. The transaction took place on 06/08/2022 and was facilitated by brokers Michael Nieder and Clinton Mitchell from JLL. The property, with a total area of 272,060 square feet, was purchased by Jenel Real Estate from the seller, Acadia Realty Trust, for a total sale price of $40,800,000. This translates to a price per square foot of $150.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $40,800,000
- Address: 165 North Illinois St
- Market: Fairview
The buyer, Jenel Real Estate, acquired the property in the deal. The seller, Acadia Realty Trust, represented by brokers Clinton Mitchell and Michael Nieder from JLL, facilitated the transaction.
Players
BROKERAGE
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,176,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$144,953.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$193,412.82
Annual Debt Service$2,320,953.78
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