Lo-Hi, LLC Acquires Former Martha Jefferson Hospital In Charlottesville For $21.9M
915 East High Street
$21,900,000
Building Size
—
Asset Type
Office
Closing
Jul 18, 2023
About this deal
AI
Lo-Hi, LLC has acquired 915 East High Street, an office property located in Charlottesville, VA, for a total sale price of $21,900,000. The property was previously owned by CFA Institute. As part of the deal, CFA Institute will lease back 47,000 square feet of the space for their ongoing operations, demonstrating their continued commitment to the area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $21,900,000
- Address: 915 East High Street, Charlottesville, VA
- Seller: CFA Institute
- Buyer: Lo-Hi, LLC
- Brokers: John Pritzlaff & Jenny Stoner - Cushman & Wakefield
John Pritzlaff and Jenny Stoner from Cushman & Wakefield facilitated the transaction as brokers. The acquisition of 915 East High Street provides Lo-Hi, LLC with a valuable office asset in Charlottesville, VA. This deal signifies the ongoing growth and development in the area, as well as the trust and confidence that both CFA Institute and Lo-Hi, LLC have in the local market.
On the Map
$21,900,000
Office
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Players
Bound Brook Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93