Realife Management Group Acquires Centre Pointe Portfolio In West Chester For $64.5M

The Centre Pointe Portfolio, located in West Chester, Ohio, has been sold for $64.5 million. The portfolio consists of five properties with a total of 640,177 square feet of office space. The sale price translates to a rate of $101 per square foot. The portfolio is positioned in the West Chester market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $64,500,000
• Square Footage: 640,177
• Address: 9100, 9050, 9075, 9025, 9277 Centre Pointe Drive
• Market: West Chester, Ohio

The buyer, Realife Management Group, acquired the Centre Pointe Portfolio from the seller, Hines. The purchase was financed by a $47.65 million loan from Argentic Real Estate Finance. The portfolio is currently 82.1% leased to 54 tenants, generating $5.08 million in net operating income over the past year. This represents a capitalization rate of 7.88% for Realife's purchase.

Note: Realife Management Group successfully completed the acquisition of the Centre Pointe Portfolio, a 640,177-square-foot office space in West Chester, Ohio. The portfolio was purchased from Hines for $64.5 million, with financing provided by Argentic Real Estate Finance. Realife Management Group's purchase achieved a capitalization rate of 7.88%, generating $5.08 million in net operating income over the past year.