RECENT SALES

ASSETS RECENTLY SOLD
NEW HAVEN, CONNECTICUT

RICCIO LOT HOSPITAL PARKING

  • Services the Smilow Cancer Hospital and the Yale New Haven Children's Hospital
  • Acquired by OP Holdings JV for USD $4.3M in 2015
  • Refinanced in 2017 at an appraised value of USD $4.5M
  • Achieved 2017 NOI of $298K representing a 6.9% cap rate on initial cost
  • Property owned by OP Holdings JV LLC in which Parkit owns an indirect 24.39% equity interest.
  • Sold in September 2020 for USD $4.5M
  • Parkit’s share of the proceeds is ~ USD $2.0M
  • Riccio Lot Hospital Parking
  • Riccio Lot Hospital Parking
OAKLAND, CALIFORNIA

EXPRESSO AIRPORT PARKING

  • Services Oakland International Airport
  • Acquired by Parkit and its partners for USD $18.6M in 2014
  • 1,899 stalls
  • Sold to OP Holdings JV in 2015 for USD 19.2M
  • Sold in 2018 for USD $36.1M
  • Achieved an IRR to Equity of 42% for the JV
JACKSONVILLE, FLORIDA

TERRA PARK PARKING FACILITY

  • Services Jacksonville Central Business District
  • Bought by OP Holdings JV for US$6.4M in 2015
  • Sold for US$6.8M in 2018 plus an additional sum of USD $750,000 paid monthly over the course of a year
  • Achieved an IRR to Equity of 24% for the JV