Bamboo Equity Partners Acquires Office Building In Charlotte, NC For $23.5M
SOLD
$23,500,000
+ 1
North Carolina
See Similar DealsOffice208,986 SF
Sold 07/01/2022
SOLD
Bamboo Equity Partners Acquires Office Building In Charlotte, NC For $23.5M
7520 East Independence Boulevard, Charlotte, North Carolina 28212, United States
See Similar DealsOffice208,986 SF
Sold 07/01/2022
+ 1
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$112
Total Square Footage:208,986 SF
Transaction Type:Sale
Located at 7520 E Independence Blvd in Charlotte, NC, this office property was recently sold in a transaction. The property spans a total area of 208,986 square feet and was sold for a price of $23,500,000, resulting in a price per square foot of $112.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $23,500,000
- Square Footage: 208,986
- Price Per Square Foot: $112
- Address: 7520 E Independence Blvd, Charlotte, NC
- Market: Charlotte, NC
The buyer of the property is Bamboo Equity Partners, while the seller is Nova Capital Partners. The sale was facilitated by the brokers Matt Smith, Patrick Gildea, Grayson Hawkins, and Robert Hardaway from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,253,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,490.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,401.99
Annual Debt Service$1,336,823.87
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