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Dr. Mahmoud Al-Hadidi Acquires 600 Renaissance Center Office In Detroit For $9.2M
SOLD
$9,200,000
Michigan
See Similar DealsOffice334,000 SF
Sold 04/23/2025
SOLD
Dr. Mahmoud Al-Hadidi Acquires 600 Renaissance Center Office In Detroit For $9.2M
600 Renaissance Center
See Similar DealsOffice334,000 SF
Sold 04/23/2025
Summary
MICHIGAN
Asset Type:Office
Price Per Square Foot:$27
Total Square Footage:334,000 SF
Transaction Type:Sale
The property asset involved in this transaction is an office space located at 600 Renaissance Center in Detroit, MI. The property was sold for a price of $9,200,000, and it comprises 334,000 square feet, resulting in a price per square foot of $28.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,200,000
- Sale Date: 04/23/2025
- Buyer: Dr. Mahmoud Al-Hadidi
- Seller: F&F Capital Group & Friedman Real Estate
- Broker: Friedman Real Estate
Dr. Mahmoud Al-Hadidi acquired the property through a Ten-X auction facilitated by Friedman Real Estate. The seller was a joint venture between F&F Capital Group and Friedman Real Estate. Notably, this tower is one of the few buildings within the Renaissance Center not owned by General Motors.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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