Citi Lends $21.5M For Retail Property Acquisition On Seventh Avenue, Chelsea
116 Seventh Ave, Rosebud Vic 3939, Australia
$21,500,000
$1,810/SF
Building Size
11,874 SF
Asset Type
Retail
Closing
Feb 27, 2020
About this deal
AI
A retail property located at 116 Seventh Avenue in Chelsea has recently been involved in a closed transaction. The property spans across 11,874 square feet and was purchased for a total amount of $21,500,000. The asset is owned by ACHS Management, represented by Alex & Bobby Adjmi.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $21,500,000
- Address: 116 Seventh Avenue
- Square Footage: 11,874
- Market: Chelsea
The transaction was financed by @Citi, serving as the lender in the deal. ACHS Management, led by Alex & Bobby Adjmi, acted as the landlord in this transaction.
Players
Melbourne Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93