Dornin Investment Group Acquires Riverside Property From EverWest Real Estate Investors For $44.25M
SOLD
$44,250,000
+ 1
California
See Similar Deals223,711 SF
SOLD
Dornin Investment Group Acquires Riverside Property From EverWest Real Estate Investors For $44.25M
2300 Market Street, Riverside, CA, 92...
See Similar Deals223,711 SF
+ 1
Summary
CALIFORNIA
Price Per Square Foot:$197
Total Square Footage:223,711 SF
Transaction Type:Sale
The property located at 2300 Market Street, Riverside, CA, encompasses a total square footage of 223,711. The transaction was finalized for the price of $44,250,000. The market for this asset is Riverside, which is significant for its growth and investment potential.
Summary of transation details:
- Property Type: Sale
- Transaction Amount: $44,250,000.00
- Address: 2300 Market Street, Riverside, CA
- Market: Riverside
- Seller: EverWest Real Estate Investors
- Buyer: Dornin Investment Group
- Seller's Representatives: Ken White, Kevin Shannon (Newmark)
- Square Footage: 223711
In this transaction, Dornin Investment Group acquired the property from EverWest Real Estate Investors. The deal involved representatives from Newmark, highlighting the brokerage's role in facilitating this significant transaction in the Riverside market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,359,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$157,210.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$209,767.58
Annual Debt Service$2,517,210.90
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