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GI Partners Acquires Industrial Properties In Fairfax, Sterling, Chantilly & Herndon, VA For $220M

Property Image
SOLD
$220,000,000
Kevin Sidney
Shaun Weinberg
Eric Berkman

Virginia

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Industrial
Sold 08/10/2022
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Property Image
SOLD

GI Partners Acquires Industrial Properties In Fairfax, Sterling, Chantilly & Herndon, VA For $220M

10302 Eaton Place, Fairfax, Virginia 22030, United States

See Similar Deals
Industrial
Sold 08/10/2022
Kevin Sidney
Shaun Weinberg
Eric Berkman
the dealplayerscompscontact
Contact now

Summary

VIRGINIA
Asset Type:Industrial
Transaction Type:Sale

An industrial property portfolio in Fairfax, Sterling, Chantily, and Herndon, VA has been sold for a total of $220,000,000. The portfolio consists of five properties located at 10302 Eaton Place, 12450 Fair Lakes Circle, 21700 Atlantic Boulevard, 14700 Lee Road, and 460 Herndon Parkway.

Summary of transaction details:

The buyer of the industrial property portfolio is GI Partners, while the seller is Turnbridge Equities - Jason Davis & Fundamental Advisors LP. The transaction was facilitated by brokers Eric Berkman, Shaun Weinberg, and Kevin Sidney from Cushman & Wakefield.

Players

Eric Berkman
Cushman & Wakefield
Eric Berkman
6 deals$583.3M volume
BROKER
Shaun Weinberg
Cushman & Wakefield
Shaun Weinberg
2 deals$265M volume
BROKER
Kevin Sidney
Cushman & Wakefield
Kevin Sidney
2 deals$231.2M volume
BROKER
GI Partners
GI Partners
BUYER
Turnbridge Equities
Turnbridge Equities
SELLER

Details

SOLD
IMAGE: Shaun Weinberg & Eric Berkman DATE: 08/10/2022 ADDRESS: 10302 Eaton Place, 12450 Fair Lakes Circle, 21700 Atlantic Boulevard, 14700 Lee Road & 460 Herndon Parkway MARKET: Fairfax, Sterling, Chantily & Herndon, VA ASSET TYPE: Industrial BUYER: GI Partners SELLER: Turnbridge Equities - Jason Davis & Fundamental Advisors LP BROKERS: Eric Berkman, Shaun Weinberg & Kevin Sidney - Cushman & Wakefield SALE PRICE: $220,000,000  

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

$11,733,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$781,613.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,042,912.24
Annual Debt Service$12,514,946.87