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TF Cornerstone Acquires Office Building In Reston, VA For $25.1M
SOLD
$25,100,000
Virginia
See Similar DealsOffice
Sold 09/25/2023
SOLD
TF Cornerstone Acquires Office Building In Reston, VA For $25.1M
1881 Campus Commons Drive
See Similar DealsOffice
Sold 09/25/2023
Summary
VIRGINIA
Asset Type:Office
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$89,174.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,986.81
Annual Debt Service$1,427,841.67
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