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Nathan Afshani And Joshua Afshani Acquire Office Assets In Memphis And Colorado For $63.6M

Property Image
SOLD
$31,600,000
Larry Thiel
John Lamberson Jr.
Terry Radford

Tennessee

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Office238,583 SF
Sold 10/07/2025
the dealplayerscompscontact
Property Image
SOLD

Nathan Afshani And Joshua Afshani Acquire Office Assets In Memphis And Colorado For $63.6M

1740 International Drive

See Similar Deals
Office238,583 SF
Sold 10/07/2025
Larry Thiel
John Lamberson Jr.
Terry Radford
the dealplayerscompscontact
Contact now

Summary

TENNESSEE
Asset Type:Office
Price Per Square Foot:$132
Total Square Footage:238,583 SF
Transaction Type:Sale

The transaction involves two office properties located at 1740 International Drive in Memphis, TN, and 1300 120th Ave in Westminster, CO, totaling 668,583 square feet. The sale price for these assets is $63,600,000, which translates to approximately $95 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $63,600,000
  • Buyer: Nathan Afshani & Joshua Afshani - AXS Opportunity Fund
  • Seller: Peakstone Realty Trust
  • Tenant: International Paper (NYSE: IP) & Vantor
  • Memphis Broker: John Lamberson & Terry Radford - CBRE
  • Colorado Broker: Larry Thiel - JLL
  • Attorney: Hamid Joseph Nourmand

This transaction highlights the roles of key individuals and firms involved, including brokers from CBRE and JLL, who facilitated the sale, and the legal representation provided by attorney Hamid Joseph Nourmand, ensuring compliance and negotiation throughout the deal process.

Players

Larry Thiel
JLL
Larry Thiel
6 deals$146.3M volume
BROKER
John Lamberson Jr.
CBRE
John Lamberson Jr.
1 deal$31.6M volume(901) 260-1060
BROKER
Terry Radford
CBRE
Terry Radford
1 deal$31.6M volume(901) 260-1022
BROKER
CBRE
CBRE
BROKERAGE
JLL
JLL
BROKERAGE
PT
Peakstone Realty Trust
SELLER

Details

SOLD
IMAGE: Hamid Joseph Nourmand, Larry Thiel, John Lamberson, Terry Radford, Nathan Afshani & Joshua Afshani DATE: 10/30/2025 ADDRESS: 1740 International Drive & 1300 120th Ave MARKET: Memphis, TN & Westminster, CO ASSET TYPE: Office BUYER: Nathan Afshani & Joshua Afshani - AXS Opportunity Fund SELLER: Peakstone Realty Trust TENANT: International Paper (NYSE: IP) & Vantor MEMPHIS BROKER: John Lamberson & Terry Radford - CBRE (@CBRE) COLORADO BROKER: Larry Thiel - JLL ATTORNEY: Hamid Joseph Nourmand SALE PRICE: $63,600,000 SF: 668,583 ~ PPSF: $95

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

$1,685,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$112,268.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,800.12
Annual Debt Service$1,797,601.46