Updated Dec 4, 2024
Edgewater Ventures And Northridge Capital Acquire Office Campus In Raleigh For $21.3M
4601 Six Forks Road
$21,300,000
$127/SF
Building Size
166,653 SF
Asset Type
Office
Closing
Jul 29, 2024
About this deal
AI
The property asset involved in this transaction is an office building located at 4601 Six Forks Road in Raleigh, NC. The sale price was $21,300,000, covering a total square footage of 166,653. The asset encompasses 7 acres of land and comprises two five-story buildings.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $21,300,000
- Sale Date: 07/29/2024
- Buyer: Edgewater Ventures & Northridge Capital
- Seller: BGO
- Brokers: CJ Liuzzo, Daniel Flynn, Ryan Clutter & Sarah Holloway - JLL
- Financing: $14.8 million loan from Sun Life Financial
This transaction highlights the involvement of Edgewater Ventures and Northridge Capital in acquiring the Landmark at North Hills office campus, showcasing their investment strategy in the Raleigh market. The brokerage team from JLL played a critical role in facilitating this deal, bringing together the buyer and the seller for a successful transaction.
On the Map
$21,300,000
$127/SF
Office
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Players
Raleigh 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93