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Realty Income Corp & EG Group Acquire Retail Portfolio In Hampshire County For $75M
SOLD
$75,000,000
Massachusetts
See Similar DealsMultiFamily
Sold 06/11/2023
SOLD
Realty Income Corp & EG Group Acquire Retail Portfolio In Hampshire County For $75M
Hampshire County
See Similar DealsMultiFamily
Sold 06/11/2023
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale
The Retail Portfolio located in Hampshire County has been sold in a closed transaction. The property consists of 17 stores in Rhode Island, including the last store in Cumberland, R.I. The sale price for this retail portfolio was $75,000,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $75,000,000
- Address: Retail Portfolio
- Market: Hampshire County
Realty Income Corp, a California-based real estate investment firm, along with EG Group, acquired the Retail Portfolio from Cumberland Farms. Cumberland Farms, the seller, decided to sell its stores in Rhode Island, resulting in this transaction. Realty Income Corp and EG Group will now take ownership of the 17 stores.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16
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