Rappaport Companies Acquires Property In Sterling From First Washington Realty For $35M
SOLD
$35,000,000
Virginia
See Similar DealsRetail188,109 SF
Sold 11/25/2019
SOLD
Rappaport Companies Acquires Property In Sterling From First Washington Realty For $35M
21800 Towncenter Plaza, Sterling, VA...
See Similar DealsRetail188,109 SF
Sold 11/25/2019
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$186
Total Square Footage:188,109 SF
Transaction Type:Sale
The property asset involved in the transaction is located at 21800 Towncenter Plaza, Sterling, VA. The transaction took place in the Sterling market, with a total sale price of $35,000,000.00 and a square footage of 188,109.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $35,000,000.00
- Address: 21800 Towncenter Plaza, Sterling, VA
- Market: Sterling
- Seller: First Washington Realty
- Buyer: Rappaport Companies
- Seller's Rep: Mathew Adler-Newmark, Christopher Huesgen-Newmark, Geoffrey Millerd-Newmark
The deal highlights the involvement of Rappaport Companies as the buyer, indicating a strategic acquisition in Sterling. The transaction was represented by Mathew Adler, Christopher Huesgen, and Geoffrey Millerd from Newmark, who acted on behalf of the seller, First Washington Realty, facilitating the complete transaction process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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