Updated Oct 29, 2024
Bluerock Acquires Industrial Buildings In Charlotte, NC For $35.3M
9415 Pioneer Avenue Charlotte, North Carolina 28273, USA
$35,300,000
$112/SF
Building Size
312,590 SF
Asset Type
Industrial
Closing
Jul 7, 2023
About this deal
AI
An affiliate of Bluerock has acquired two industrial buildings in Charlotte, NC for $35.3 million. The properties, located at 9415 Pioneer Avenue, have a total square footage of 312,590, resulting in a price per square foot of $113. This transaction took place on July 7, 2023.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $35,300,000
- Address: 9415 Pioneer Avenue
- Market: Charlotte, NC
- Buyer: Affiliate of Bluerock
- Seller: Dogwood Industrial Properties
The buyer, an affiliate of Bluerock, acquired the industrial buildings from the seller, Dogwood Industrial Properties. This acquisition showcases Bluerock's expanding presence in the Charlotte, NC market and underscores their strategic investment in the industrial sector.
On the Map
$35,300,000
$112/SF
Industrial
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Players
Charlotte Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93