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RCG Ventures Acquires Pinnacle Nord Du Lac Retail Center In Covington For $27 Million
SOLD
$27,000,000
+ 1
Louisiana
See Similar DealsRetail215,058 SF
Sold
SOLD
RCG Ventures Acquires Pinnacle Nord Du Lac Retail Center In Covington For $27 Million
6102 Pinnacle Parkway
See Similar DealsRetail215,058 SF
Sold
+ 1
Summary
LOUISIANA
Asset Type:Retail
Price Per Square Foot:$125
Total Square Footage:215058 SF
Transaction Type:Sale
RCG Ventures acquired a retail asset known as the Pinnacle Nord du Lac retail center located at 6102 Pinnacle Parkway in Covington, LA. The property encompasses 215,058 square feet and was purchased for $27 million, translating to a price per square foot of $126.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $27,000,000
- Buyer: RCG Ventures
- Seller: Cypress Equities
- Brokers: Andrew Michols, Brad Buchanan, Jim Hamilton & Ryan West - JLL
- Sale Date: 12/18/2024
This transaction illustrates the involvement of RCG Ventures as the buyer and Cypress Equities as the seller, with representation provided by the brokerage team from JLL consisting of Andrew Michols, Brad Buchanan, Jim Hamilton, and Ryan West.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,440,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30
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