Deep Edge Realty Acquires Special Purpose Property In Portland, ME For $6.9M
340 Cumberland Avenue, Portland, Maine 04101, United States
$6,900,000
$132/SF
Building Size
52,272 SF
Asset Type
Other
Closing
Feb 6, 2022
About this deal
AI
A 52,272± SF special purpose property located at 340 Cumberland Ave in Portland, ME was sold in a closed transaction. The property was purchased by Deep Edge Realty, a Boston based internet company, from Sweetwater Partners. The sale price for this data center building was $6,900,000, with a price per square foot of $132.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $6,900,000
- Square Footage: 52,272
- Price per Square Foot: $132
- Address: 340 Cumberland Ave, Portland, ME
- Market: Portland, ME
The Dunham Group represented both parties in the transaction, with TC Haffenreffer, Sylas Hatch, Tom Moulton, and Katie Allen serving as brokers. Note from Deep Edge Realty: Deep Edge Realty acquired this property in an offer market transaction.
Players
Portland Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93