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Highwoods Properties Sells Medical Office In Durham, NC For $20.7M
SOLD
$20,700,000
North Carolina
See Similar DealsOther
Sold 06/05/2023
SOLD
Highwoods Properties Sells Medical Office In Durham, NC For $20.7M
4709 Creekstone Drive Durham, North Carolina 27703, Usa
See Similar DealsOther
Sold 06/05/2023
Summary
NORTH CAROLINA
Asset Type:Other
Transaction Type:Sale
The medical office located at 4709 Creekstone Drive in Durham, NC has been sold by Highwoods Properties for a total price of $20,700,000. The property is a prime asset in the market, offering valuable opportunities in the medical sector.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $20,700,000
- Address: 4709 Creekstone Drive, Durham, NC
- Seller: Highwoods Properties
This transaction highlights the successful sale of the medical office, with Highwoods Properties acting as the seller. The deal was completed on 06/05/2023, showcasing the expertise and negotiation skills of both parties involved. The market in Durham, NC shows substantial potential for medical offices, making this transaction a significant achievement for all parties.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,104,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,542.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,128.56
Annual Debt Service$1,177,542.73
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