Updated Oct 28, 2024
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
About this deal
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.
The office loan at 1010 Saint Albans Drive, Raleigh, North Carolina 27609, United States in Raleigh, North Carolina financed for $139M in 2022. The building is 350,000 square feet, implying about 397 per square foot on the published price. Wes Boatwright, Jon Goldstein, Avison Young appear on the loan alongside Avison Young. This page is the Raleigh, North Carolina file for the 1010 Saint Albans Drive, Raleigh, North Carolina 27609, United States office financed: pricing, party profiles, and other closed office comps from the same Raleigh sit in the Market section below. Filter that Raleigh office set by closing date to see what else financed near 1010 Saint Albans Drive, Raleigh, North Carolina 27609, United States around 2022. Published consideration for 1010 Saint Albans Drive, Raleigh, North Carolina 27609, United States is $139M, dated 2022. Cite this Avison Young Secures $139M Construction Loan For Office Building On Saint Albans Drive, Raleigh NC loan when underwriting similar office product around Raleigh, North Carolina.
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