The Meridian Group Acquires 277 Acres Of Land In Winchester, VA For $150M
SOLD
$150,000,000
Virginia
See Similar Deals2,800,000 SF
Sold 12/20/2021
SOLD
The Meridian Group Acquires 277 Acres Of Land In Winchester, VA For $150M
1400 Millwood Pike, Winchester, Virginia 22602, United States
See Similar Deals2,800,000 SF
Sold 12/20/2021
Summary
VIRGINIA
Price Per Square Foot:$53
Total Square Footage:2,800,000 SF
Transaction Type:Sale
A 277-acre piece of land located at 1400 Millwood Pike in Winchester, VA has been sold in a recent transaction. The buyer, The Meridian Group represented by Gary Block, acquired the property from JGR Three, Hockman Investments, and Governor’s Hill LLC. The sale price for this transaction was $150,000,000, with a price per square foot of $54. This land asset offers a total of 2,800,000 square feet.
Summary of transation details
- Property Type: Land
- Transaction Amount: $150,000,000
- Square Footage: 2,800,000
- Address: 1400 Millwood Pike, Winchester, VA
- Market: Winchester, VA
The Meridian Group, represented by Gary Block, acted as the buyer in this transaction. On the other hand, JGR Three, Hockman Investments, and Governor’s Hill LLC served as the sellers. With this successful sale, the Meridian Group expands its portfolio with an extensive 277-acre land asset in Winchester, VA.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32
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