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The RMR Group Acquires Industrial Properties Portfolio For $206M

Property Image
SOLD
$206,000,000

Mississippi

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Industrial2,500,000 SF
Sold 12/28/2021
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Property Image
SOLD

The RMR Group Acquires Industrial Properties Portfolio For $206M

8474 Market Place Dr, Southaven, Mississippi 38671, United States

See Similar Deals
Industrial2,500,000 SF
Sold 12/28/2021
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Summary

MISSISSIPPI
Asset Type:Industrial
Price Per Square Foot:$82
Total Square Footage:2,500,000 SF
Transaction Type:Sale

The industrial property located at 2353 Global Drive, 2373 Global Drive, 16920 W. Commerce Drive, 6380 E Holmes Rd, 481 Airport Industrial Dr., and 8474 Market Place Dr. has been sold in a closed transaction. The buyer, The RMR Group, acquired the property from Industrial Logistics Properties Trust, represented by John Murray. The sale price for the property was $206,000,000. The total square footage of the property is 2,500,000, resulting in a price per square foot of $82.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $206,000,000
  • Square Footage: 2,500,000
  • Price per Square Foot: $82
  • Buyer: The RMR Group
  • Seller: Industrial Logistics Properties Trust - John Murray
  • Market: Columbus OH, Goodyear AZ, Memphis, Southaven MS

The transaction involving the industrial property was facilitated by John Murray representing Industrial Logistics Properties Trust. This deal marks a significant transaction in the industrial property market, with The RMR Group acquiring the property from Industrial Logistics Properties Trust for a substantial amount. The details of the transaction highlight the active commercial real estate market in the respective markets of Columbus OH, Goodyear AZ, Memphis, and Southaven MS.

Players

BUYER

4 deals$430.5M volume
SELLER

Details

SOLD
IMAGE: John Murray DATE: 12/28/2021 ADDRESS: 2353 Global Drive, 2373 Global Drive, 16920 W. Commerce Drive, 6380 E Holmes Rd, 481 Airport Industrial Dr., 8474 Market Place Dr. MARKET: Columbus OH, Goodyear AZ, Memphis, Southaven MS ASSET TYPE: Industrial BUYER: The RMR Group SELLER: Industrial Logistics Properties Trust - John Murray SALE PRICE: $206,000,000 SF: 2,500,000 ~ PPSF: $82

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

$10,986,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$731,874.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$976,545.10
Annual Debt Service$11,718,541.16