Golden East Investors & FCA Orbita Group Acquire Office Property In Hampton, Virginia For $20M

The office property located at 5200 West Mercury Blvd in Hampton, Virginia was involved in a loan transaction on October 30, 2020. The lender for this transaction was KDM Inc. The loan amount was $44,000,000.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $44,000,000
• Address: 5200 West Mercury Blvd, Hampton, Virginia
• Market: Hampton, Virginia

The landlord of the property is Golden East Investors & FCA Orbita Group. Golden East Investors and FCA Orbita Group purchased the property for $20MM in August of 2018. At the time of acquisition, the property had an occupancy rate of 60%. Following the purchase, Golden East Investors signed a lease with Huntington Ingalls Industries Inc. for 188K SF, bringing the occupancy rate to 93% and stabilizing the property. Notably, the property was recently appraised for $74MM, which is 3.7 times the original acquisition price, just 28 months after the purchase.