Armada Hoffler Properties Inc Acquires Mixed-Use Property In Baltimore, MD For $246M
SOLD
$246,000,000
Maryland
See Similar DealsMixed-use444,000 SF
Sold 12/08/2021
SOLD
Armada Hoffler Properties Inc Acquires Mixed-Use Property In Baltimore, MD For $246M
East Baltimore Midway, Baltimore, Maryland, United States
See Similar DealsMixed-use444,000 SF
Sold 12/08/2021
Summary
MARYLAND
Asset Type:Mixed-use
Price Per Square Foot:$554
Total Square Footage:444,000 SF
Transaction Type:Sale
The mixed-use property located at 1310 Point St in Baltimore, MD is currently under contract. The property has a total square footage of 444,000 and is being sold for a price of $246,000,000, resulting in a price per square foot of $554. The buyer of the property is Armada Hoffler Properties Inc, represented by Louis S. Haddad. Armada Hoffler Properties Inc expects to close the acquisition by the end of the first quarter of 2022.
Summary of transaction details
- Asset Type: Mixed-use
- Sale Price: $246,000,000
- Square Footage: 444,000
- Buyer: Armada Hoffler Properties Inc - Louis S. Haddad
The deal has a stake of 90% and is expected to be finalized by the end of the first quarter of 2022.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$13,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$873,986.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,166,165.50
Annual Debt Service$13,993,986.04
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