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CBL Properties Acquires Gateway Mall In Lincoln Nebraska From Washington Prime Group For $43.5M
SOLD
$43,500,000
Nebraska
See Similar DealsRetail
Sold
SOLD
CBL Properties Acquires Gateway Mall In Lincoln Nebraska From Washington Prime Group For $43.5M
6100 O Street
See Similar DealsRetail
Sold
Summary
NEBRASKA
Asset Type:Retail
Transaction Type:Sale
The property involved in the transaction is Gateway Mall, located at 6100 O Street in Lincoln, NE. This retail asset has a total square footage of 843,000 and is currently 95% leased. The sale price for the property was $43,500,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $43,500,000
- Buyer: CBL Properties
- Seller: Washington Prime Group
- Market: Lincoln, NE
CBL Properties has successfully acquired the property from Washington Prime Group, with the transaction emphasizing the strength of the asset’s leasing activity and the presence of major national retailers as anchors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,320,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$154,546.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$206,212.19
Annual Debt Service$2,474,546.31
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