Updated Dec 4, 2024
Global Outreach Academy Acquires Upward Star Center In Spartanburg, SC For $24M
9768 Warren H Abernathy Highway
$24,000,000
Building Size
—
Asset Type
School
Closing
Oct 11, 2023
About this deal
AI
The Upward Star Center, a Spartanburg County campus and sports complex, has been sold for $24 million to Global Outreach Academy in two separate transactions. The property, located at 9768 Warren H Abernathy Highway in Spartanburg, SC, is a school asset.
Summary of transation details
- Property Type: School
- Transaction Amount: $24,000,000
- Date: 10/11/2023
- Buyer: Ilya Soroka - Global Outreach Academy
- Broker: Shannon Donahoo - BlackStream LLC
- Market: Spartanburg, SC
Global Outreach Academy, represented by Ilya Soroka, was the buyer in this transaction. The purchase of the Upward Star Center for $24 million demonstrates their commitment to expanding their educational facilities. Shannon Donahoo, from BlackStream LLC, served as the broker in the deal, facilitating the smooth execution of the transaction.
Players
Spartanburg School Market Snapshot
Boundary boundary · School · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93