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Gelfund Real Estate Opportunities Acquires Property From Promark Properties For $40.2M In Glen Burnie

Property Image
SOLD
$40,200,000

Maryland

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MultiFamily
Sold 03/09/2022
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Property Image
SOLD

Gelfund Real Estate Opportunities Acquires Property From Promark Properties For $40.2M In Glen Burnie

201 Crain Hwy N, Glen Burnie, MD, 21...

See Similar Deals
MultiFamily
Sold 03/09/2022
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in this transaction is located at 201 Crain Hwy N, Glen Burnie, MD. The transaction concluded with a price of $40,200,000. The total square footage is reported as 0, indicating that this deal may have involved land rather than a physical structure. The market associated with this transaction is Glen Burnie.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $40,200,000.00
  • Address: 201 Crain Hwy N, Glen Burnie, MD
  • Market: Glen Burnie
  • Buyer: Gelfund Real Estate Opportunities
  • Seller: Promark Properties
  • Buyer’s Representative: Justin Shay - Transwestern
  • Brokers: Dean Sigmon - Transwestern

This transaction showcases the involvement of Gelfund Real Estate Opportunities as the buyer and Promark Properties as the seller, highlighting the role of brokers in facilitating the deal, specifically Justin Shay and Dean Sigmon, both from Transwestern.

Players

Dean Sigmon
12 deals$647.5M volume
BROKER

Justin Shay
Transwestern
11 deals$532.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: 201 Crain Hwy N, Glen Burnie, MD, 21... MARKET: Glen Burnie BUYER'S REP: Justin Shay -Transwestern BROKERS: Dean Sigmon -Transwestern BUYER: Gelfund Real Estate Opportunities SELLER: Promark Properties PRICE: $40,200,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,143,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$142,822.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$190,568.51
Annual Debt Service$2,286,822.11