Suppose that American Campus Communities, a real estate investment trust $($REIT$)$ wholly owned by Blackstone, paid $$114,000,000$ to buy the Block property in the Stadium Centre project from the original developer, North American Properties. If ACC expected the property to produce $$6,533,961$ in net operating income $($NOI$)$ during the first year of ownership, what was their cap rate going into the transaction?

Hint: Remember to multiply a decimal value by $100$ to get a percentage.

$($Input your answer as a percentage rounded to the nearest tenth and without the $\%$ sign, e$.$g$.,12\mathrm{.}5\%$ is input as $12\mathrm{.}5$ not $0\mathrm{.}125)$