Azora Exan Acquires Office Property In Cincinnati, OH For $78M
400 Oak Street, Cincinnati, Ohio 45219, United States
$78,000,000
$257,425/SF
Building Size
303 SF
Asset Type
Office
Closing
Jan 25, 2023
AI
The office property located at 400 Oak St & 2905 Vernon Place in Cincinnati, OH has been sold for a price of $78,000,000. The property spans a total area of 303,130 square feet, resulting in a price per square foot of $257.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $78,000,000
- Address: 400 Oak St & 2905 Vernon Place, Cincinnati, OH
- Market: Cincinnati, OH
- Buyer: Azora Exan
- Broker: JLL Capital Markets
- Square Footage: 303,130
Azora Exan, represented by JLL Capital Markets, has acquired the office property located at 400 Oak St & 2905 Vernon Place in Cincinnati, OH. This transaction marks a significant investment in the Cincinnati market, reflecting confidence in the value and potential of the property.
Players
Cincinnati 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93