Updated Oct 29, 2024
Northpond Partners Acquires Preston Corners Shopping Center In Cary For $13.2M
940 High House Road Cary, North Carolina 27513, USA
$13,200,000
Building Size
—
Asset Type
Retail
Closing
Jul 9, 2023
About this deal
AI
Northpond Partners has acquired Preston Corners shopping center in Cary, NC for $13.2 million. The center is anchored by Lowes Foods and is located at 940 High House Road.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,200,000
- Date: 07/09/2023
- Address: 940 High House Road
- Market: Cary, NC
In this transaction, Northpond Partners purchased the Preston Corners shopping center from the seller, Sun Life Assurance Co of Canada, for a total of $13.2 million. The center, located at 940 High House Road in Cary, NC, is a retail property anchored by Lowes Foods. This acquisition further strengthens Northpond Partners' portfolio in the retail sector.
Players
Cary Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93