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
About this deal
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.
On the Map
$25,100,000
Office
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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