Kawa Capital Management Acquires Office Building In Princeton For $45M
SOLD
$45,000,000
New Jersey
See Similar DealsOffice302,000 SF
Sold 03/03/2022
SOLD
Kawa Capital Management Acquires Office Building In Princeton For $45M
7-9 Roszel Road, Princeton, New Jersey 08540, United States
See Similar DealsOffice302,000 SF
Sold 03/03/2022
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$149
Total Square Footage:302,000 SF
Transaction Type:Sale
The West Windsor Commons office property located at 7-9 Roszel Road in Princeton has been sold in a recent transaction. The sale, which took place on 03/03/2022, involved a total area of 302,000 square feet and was valued at $45,000,000. The buyer, Kawa Capital Management, acquired the property from the seller, John Hancock Financial - Manulife. The sale price translated to a price per square foot of $149, reflecting the market value of the asset.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $45,000,000
Henry Bodek from Galaxy Capital served as the broker in this transaction, representing both the buyer, Kawa Capital Management, and the seller, John Hancock Financial - Manulife. Galaxy Capital was responsible for arranging the fee sale and ground lease in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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