Beitel Group And The Scharf Group Acquire Portfolio Of Office Units For $325M
SOLD
$325,000,000
Virginia
See Similar DealsRetail
Sold 12/07/2021
SOLD
Beitel Group And The Scharf Group Acquire Portfolio Of Office Units For $325M
Virginia, United States
See Similar DealsRetail
Sold 12/07/2021
Summary
VIRGINIA
Asset Type:Retail
Transaction Type:Sale
The Beitel Group and The Scharf Group have completed the acquisition of a portfolio of office assets in Virginia, Kentucky, Wisconsin, and Missouri. The portfolio consists of a total of 1,918 units. The sale of the portfolio was finalized on December 7, 2021, with a transaction amount of $325,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $325,000,000
The purchase was led by the Beitel Group and The Scharf Group. Glenn Scharf represented The Scharf Group as their broker in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$17,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,154,656.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,540,665.81
Annual Debt Service$18,487,989.69
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