Cedars-Sinai Medical Center Acquires Medical Office In Torrance For $37.8M
3440 Lomita Boulevard, Torrance, California 90505, United States
$37,800,000
$517/SF
Building Size
73,000 SF
Asset Type
—
Closing
May 15, 2022
AI
The medical office building located at 3440 Lomita Boulevard in Torrance has been sold for $37,800,000. The property was acquired by Cedars-Sinai Medical Center. The transaction took place on May 16, 2022. The medical office building is situated in the Torrance market and is known for its medical facilities.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $37,800,000
- Address: 3440 Lomita Boulevard, Torrance
- Buyer: Cedars-Sinai Medical Center
- Date: May 16, 2022
Cedars-Sinai Medical Center, a renowned medical institution, has acquired the medical office building located at 3440 Lomita Boulevard in Torrance. This transaction highlights the institution's ongoing expansion and commitment to providing exceptional healthcare services to the community.
Players
Torrance CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93