Recent Sales Asset

Riccio Lot Hospital Parking

New Haven, Connecticut

About the Property

  • 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