Opal Holdings Acquires Fairfax Property For $55.3 Million With Seller's Rep James Cassidy
SOLD
$55,300,000
Virginia
See Similar DealsCondo259,511 SF
Sold 10/13/2021
SOLD
Opal Holdings Acquires Fairfax Property For $55.3 Million With Seller's Rep James Cassidy
12601 Fair Lakes Cir, Fairfax, VA, 22033
See Similar DealsCondo259,511 SF
Sold 10/13/2021
Summary
VIRGINIA
Asset Type:Condo
Price Per Square Foot:$213
Total Square Footage:259,511 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,949,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$196,469.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$262,150.21
Annual Debt Service$3,145,802.55
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