Opal Holdings Acquires Fairfax Property For $55.3 Million With Seller's Rep James Cassidy
12601 Fair Lakes Cir, Fairfax, VA, 22033
$55,300,000
$213/SF
Building Size
259,511 SF
Asset Type
Condo
Closing
Oct 13, 2021
AI
The property asset involved in this transaction is located at 12601 Fair Lakes Cir, Fairfax, VA, 22033, within the Fairfax market. The sale was concluded at a price of $55,300,000.00 and encompasses a total square footage of 259,511.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $55,300,000.00
- Address: 12601 Fair Lakes Cir, Fairfax, VA, 22033
- Market: Fairfax
- Seller's Representative: James Cassidy - Newmark
- Buyer: Opal Holdings
- Square Footage: 259,511
This transaction features key participants in the real estate market, with James Cassidy representing the seller, Newmark, while Opal Holdings acted as the buyer in this acquisition. The collaboration between these entities facilitated the completion of the sale.
Players
Fairfax Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93