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Syndicated Equities Acquires Oklahoma City Office Building For $47M

Property Image
SOLD
$47,000,000

Oklahoma

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Office111,503 SF
Sold 10/05/2022
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Property Image
SOLD

Syndicated Equities Acquires Oklahoma City Office Building For $47M

616 North Broadway Avenue, Oklahoma City, Oklahoma 73102, United States

See Similar Deals
Office111,503 SF
Sold 10/05/2022
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Summary

OKLAHOMA
Asset Type:Office
Price Per Square Foot:$421
Total Square Footage:111,503 SF
Transaction Type:Sale

The office property located at 616 North Broadway Avenue in Oklahoma City, OK has been sold in a closed transaction. The property spans a total area of 111,503 square feet and was sold at a price of $47,000,000, resulting in a price per square foot of $422. The buyer of the property is Syndicated Equities, while the seller is Real Capital Solutions. The deal was facilitated by Ken Hedrick from Newmark.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $47,000,000
  • Square Footage: 111,503
  • Price per Square Foot: $422
  • Address: 616 North Broadway Avenue, Oklahoma City, OK
  • Market: Oklahoma City, OK
  • Buyer: Syndicated Equities
  • Seller: Real Capital Solutions
  • Broker: Ken Hedrick - Newmark

This transaction showcases the successful collaboration between Syndicated Equities as the buyer, Real Capital Solutions as the seller, and Ken Hedrick from Newmark as the broker. The sale of this office property exemplifies the strong real estate market in Oklahoma City, with a transaction amount of $47,000,000 and a price per square foot of $422.

Players

Ken Hedrick
3 deals$837M volume(918) 640-4977
BROKER

BUYER

Details

SOLD
IMAGE: Ken Hedrick DATE: 10/05/2022 ADDRESS: 616 North Broadway Avenue MARKET: Oklahoma City, OK ASSET TYPE: Office BUYER: Syndicated Equities SELLER: Real Capital Solutions BROKER: Ken Hedrick - Newmark SALE PRICE: $47,000,000 SF: 111,503 ~ PPSF: $422

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,506,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$166,981.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$222,803.98
Annual Debt Service$2,673,647.74