Crescent Investment Group Acquires Office Building In St. Louis From USBank For $40M
505 N 7th St, Saint Louis, Missouri 63101, United States
$40,000,000
$60/SF
Building Size
658,000 SF
Asset Type
Office
Closing
Jan 31, 2022
About this deal
AI
The office building located at 505 N. Seventh St. in St. Louis, MO has been sold for a total of $40,000,000. The property, with a size of approximately 658,000 square feet, was purchased by Crescent Investment Group, represented by H. Bradford Inglesby and Tyler Duncan. The seller of the property was USBank.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $40,000,000
- Address: 505 N. Seventh St., St. Louis, MO
- Market: St. Louis, MO
Crescent Investment Group, represented by H. Bradford Inglesby and Tyler Duncan, successfully acquired the office building at 505 N. Seventh St. in St. Louis, MO. This transaction marks a significant investment for Crescent Investment Group. USBank acted as the seller in the deal.
Players
Saint Louis Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93