Principal Real Estate Investors Acquires Mixed-Use Property In Portland For $132.5M
SOLD
$132,500,000
+ 2
Oregon
See Similar DealsMixed-use430,000 SF
Sold 04/09/2020
SOLD
Principal Real Estate Investors Acquires Mixed-Use Property In Portland For $132.5M
1455 Southwest Broadway, Portland, OR, USA
See Similar DealsMixed-use430,000 SF
Sold 04/09/2020
+ 2
Summary
OREGON
Asset Type:Mixed-use
Price Per Square Foot:$308
Total Square Footage:430,000 SF
Transaction Type:Sale
The mixed-use property located at 1455 SW Broadway in Portland has been sold in a recent transaction. The property, spanning 430,000 square feet, was purchased by Principal Real Estate Investors from BDC/Broadway Office LLC. The sale price for this transaction was $132,500,000, resulting in a price per square foot of $308.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $132,500,000
- Square Footage: 430,000
- Address: 1455 SW Broadway, Portland
The deal was facilitated by brokers from NKF, including Nick Kucha, James Childress, Jeff Hodson, Kevin Shannon, and James Ikeguchi. These individuals played a significant role in representing the involved parties throughout the transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$470,744.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$628,117.60
Annual Debt Service$7,537,411.18
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