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Second Horizon Capital Acquires Kingston Collection Mall From Affiliate Of The Pyramid Cos For $9M

Property Image
SOLD
$9,000,000

North Carolina

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Retail473,000 SF
Sold 08/03/2023
the dealdetailscomps
Property Image
SOLD

Second Horizon Capital Acquires Kingston Collection Mall From Affiliate Of The Pyramid Cos For $9M

3500 Oleander Drive Wilmington, North Carolina 28403, USA

See Similar Deals
Retail473,000 SF
Sold 08/03/2023
the dealdetailscomps

Summary

NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$19
Total Square Footage:473,000 SF
Transaction Type:Sale

The Kingston Collection mall, located at 3500 Oleander Dr in Wilmington, NC, has been sold for $9 million. The property spans 473,000 square feet and was acquired by Second Horizon Capital from an affiliate of The Pyramid Cos. The sale price equates to $19 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $9,000,000
  • Address: 3500 Oleander Dr, Wilmington, NC
  • Market: Wilmington, NC
  • Buyer: Second Horizon Capital
  • Seller: Affiliate of The Pyramid Cos
  • Square Footage: 473,000
  • Price per Square Foot: $19

Second Horizon Capital, a prominent buyer in the real estate industry, has successfully acquired the Kingston Collection mall. This transaction has been completed through the purchase of the property from an affiliate of The Pyramid Cos for a total of $9 million.

Players

Second Horizon Capital
Second Horizon Capital
BUYER

Details

SOLD
IMAGE: 08/03/2023 ADDRESS: 3500 Oleander Dr MARKET: Wilmington, NC ASSET TYPE: Retail BUYER: Second Horizon Capital SELLER: Affiliate of The Pyramid Cos SALE PRICE: $9,000,000 SF: 473,000 ~ PPSF: $19 NOTE: Second Horizon Capital has acquired the Kingston Collection mall from an affiliate of The Pyramid Cos. for $9 million.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$31,975.10
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