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1000 Diamond St, Philadelph...

Alexandra Capital Acquires Student Housing In Philadelphia For $23.5M
SOLD

Alexandra Capital Acquires Student Housing In Philadelphia For $23.5M

1000 Diamond St, Philadelphia, Pennsylvania 19122, United States

$23,500,000

$195/SF

Building Size

120,000 SF

Asset Type

Closing

May 19, 2022

AI

The student housing property located at 1000 Diamond St in Philadelphia, PA has been sold for a total of $23,500,000. The transaction took place on 05/20/2022. The property was acquired by Alexandra Capital from Orens Brothers Real Estate.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: $23,500,000
  • Address: 1000 Diamond St, Philadelphia, PA
  • Market: Philadelphia, PA

The deal was facilitated by the brokers Ken Wellar, Douglas Sitt, Corey Lonberger, and Mark Duszak of Rittenhouse Realty Advisors. They played a key role in representing both the buyer, Alexandra Capital, and the seller, Orens Brothers Real Estate, during the transaction.

Players

Kenneth Wellar

Global Real Estate Advisors (GREA)

Broker

$1.2B

vol

58 deals

Broker
RW Real Estate
RW Real EstateSeller

Philadelphia CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.68%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93