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4201 Congress Street, Charl...

Updated Oct 28, 2024

Brookdale Group Acquires Office Property In Charlotte, NC For $79.9M
SOLDOffice

Brookdale Group Acquires Office Property In Charlotte, NC For $79.9M

4201 Congress Street, Charlotte, North Carolina 28209, United States

Building Size

234,670 SF

Asset Type

Office

Closing

Sep 5, 2022

About this deal

AI

The office building located at 4201 Congress St in Charlotte, NC has been sold in a recent transaction. The buyer, Brookdale Group, acquired the property from the seller, Equus Capital Partners. The deal was facilitated by JLL, who acted as the broker.

Summary of transation details

  • Property Type: Office
  • Sale Price: $79,900,000
  • Square Footage: 234,670
  • Price per Square Foot: $340

The sale of this office building marks a significant transaction in the Charlotte, NC market. The property boasts 234,670 square feet of space and was sold for a price of $79,900,000, equating to a price per square foot of $340. Brookdale Group, as the buyer, saw the value in this asset and completed the acquisition. Equus Capital Partners, the seller, successfully monetized their investment in this office property. JLL played a pivotal role in facilitating the transaction, ensuring a smooth process for all parties involved.

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Players

BG
Brookdale GroupBuyer

Charlotte Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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