Avison Young Secures $139M Construction Loan For Office Building On Saint Albans Drive, Raleigh NC
1010 Saint Albans Drive, Raleigh, North Carolina 27609, United States
$139,000,000
$397/SF
Building Size
350,000 SF
Asset Type
Office
Closing
Oct 12, 2022
AI
The property involved in this transaction is an office building located at 1010 Saint Albans Drive in Raleigh, NC. The property spans 350,000 square feet and is owned by Dewitt Carolinas.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $139,000,000
- Market: Raleigh, NC
The construction loan for this transaction was facilitated by Wes Boatwright, Michael Yavinsky, Jon Goldstein, and Connor Burke from Avison Young.
Players
Raleigh Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93