BlackRock Acquires Property From Northwestern Mutual At 7170 Woodmont Ave For $143.5M
SOLD
$143,500,000
Maryland
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BlackRock Acquires Property From Northwestern Mutual At 7170 Woodmont Ave For $143.5M
7170 Woodmont Ave, Bethesda, MD, 2...
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MARYLAND
Transaction Type:Sale
The property involved in this transaction is located at 7170 Woodmont Ave, Bethesda, MD, within the Chevy Chase market. The sale price for the property was $143,500,000.00. The total square footage of the asset was not specified.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $143,500,000.00
- Address: 7170 Woodmont Ave, Bethesda, MD
- Market: Chevy Chase
- Seller: Northwestern Mutual
- Buyer: BlackRock
- Seller's Representatives: Jordan Lex - JLL, Brian Crivella - Berkadia, John Owendoff - Cushman & Wakefield
The transaction involved key representatives including Jordan Lex from JLL, Brian Crivella from Berkadia, and John Owendoff from Cushman & Wakefield, representing the seller, Northwestern Mutual, in the deal.
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BUYER
SELLER
LENDER
LENDER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,653,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$509,825.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$680,263.21
Annual Debt Service$8,163,158.52
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