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1881 Campus Commons Drive

TF Cornerstone Acquires Office Building In Reston, VA For $25.1M
SOLDOffice

TF Cornerstone Acquires Office Building In Reston, VA For $25.1M

1881 Campus Commons Drive

$25,100,000

Building Size

Asset Type

Office

Closing

Sep 25, 2023

AI

TF Cornerstone, a New York City-based developer, has acquired 1881 Campus Commons Drive in Reston, Virginia for $25.1 million. The office property, located at a prime location in Reston, offers an ideal space for businesses. With a transaction amount of $25.1 million, this acquisition represents a significant investment for TF Cornerstone.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $25,100,000
  • Address: 1881 Campus Commons Drive, Reston, VA
  • Market: Reston, VA

Jake Elghanayan and Ken Houle of TF Cornerstone played a key role in this deal as the buyer's representatives. With their expertise and experience, they successfully negotiated the acquisition of 1881 Campus Commons Drive. This transaction highlights TF Cornerstone's commitment to expanding its portfolio and presence in the Reston market.

Players

Jake Elghanayan

TF Cornerstone

Buyer

$44.2M

vol

3 deals

Buyer
TF Cornerstone
TF CornerstoneBuyer
TF Cornerstone
TF CornerstoneLender

Reston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93