University Of California Acquires School And Student Housing In Rancho Palos Verdes And San Pedro For $80M
SOLD
$80,000,000
+ 1
California
See Similar DealsSOLD
University Of California Acquires School And Student Housing In Rancho Palos Verdes And San Pedro For $80M
30800 Palos Verdes Drive East, Rancho Palos Verdes, California 90275, United States
See Similar Deals+ 1
Summary
CALIFORNIA
Transaction Type:Sale
The sale of a property asset located at 30800 Palos Verdes Drive and 1600 Palos Verdes Drive North in Rancho Palos Verdes and San Pedro has been completed. The property consists of a school and student housing.
Summary of transaction details
- Property Type: School & Student Housing
- Transaction Amount: $80,000,000
- Buyer: The Regents of the University of California - Chancellor Gene Block
- Seller: Marymount California University
- Buyer's Representative: Cushman & Wakefield
- Seller's Representatives: Adrienne Barr & Steffan Braunlich - Berkadia
- Lender: JMB Capital Partners Lending LLC
- Mortgage Broker: Keith Rosso - Berkadia
The buyer, The Regents of the University of California, was represented by Cushman & Wakefield, while the seller, Marymount California University, was represented by Adrienne Barr & Steffan Braunlich of Berkadia. The transaction involved a sale price of $80,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77
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