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Tide Realty Capital Acquires Reisterstown Road Plaza In Baltimore For $48.3M

Property Image
SOLD
$48,300,000
Mathew Adler
JK

Maryland

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Retail742,573 SF
Sold 11/08/2023
the dealplayerscompscontact
Property Image
SOLD

Tide Realty Capital Acquires Reisterstown Road Plaza In Baltimore For $48.3M

6500 Reisterstown Road

See Similar Deals
Retail742,573 SF
Sold 11/08/2023
Mathew Adler
JK
the dealplayerscompscontact
Contact now

Summary

MARYLAND
Asset Type:Retail
Price Per Square Foot:$65
Total Square Footage:742,573 SF
Transaction Type:Sale

Tide Realty Capital, represented by Aaron Loeb, has acquired the Reisterstown Road Plaza in Baltimore for $48.3 million from Kite Realty. The property, located at 6500 Reisterstown Road, is a retail asset with a total area of 742,573 square feet. The transaction reflects a price per square foot of $65.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $48,300,000
  • Square Footage: 742,573
  • Address: 6500 Reisterstown Road, Baltimore, MD
  • Buyer: Aaron Loeb - Tide Realty Capital
  • Seller: John A. Kite - Kite Realty
  • Broker: Mathew Adler - Newmark

Tide Realty Capital, led by Aaron Loeb, successfully acquired the Reisterstown Road Plaza in Baltimore. The property, purchased from John A. Kite of Kite Realty, is a 742,573-square-foot retail asset. Mathew Adler of Newmark represented the buyer in this transaction.

Players

Mathew Adler
Newmark
Mathew Adler
6 deals$507.6M volume
BROKER
JK
Kite Realty
John A. Kite
5 deals$987.6M volume
SELLER

Details

SOLD
IMAGE: Aaron Loeb, John A. Kite & Mathew Adler DATE: 11/08/2023 ADDRESS: 6500 Reisterstown Road MARKET: Baltimore, MD ASSET TYPE: Retail BUYER: Aaron Loeb - Tide Realty Capital SELLER: John A. Kite - Kite Realty BROKER: Mathew Adler - Newmark SALE PRICE: $48,300,000 SF: 742,573 ~ PPSF: $65 NOTE: Tide Realty Capital has acquired the 742,573-square-foot Reisterstown Road Plaza in Baltimore for $48.3 million from Kite Realty.

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

$2,575,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$171,599.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$228,966.64
Annual Debt Service$2,747,599.70