Updated Jan 24, 2025
Sharp Capital Acquires Property From The Blackstone Group In Glendale For $19.75M
425 W Broadway, Glendale, CA, 91204
$19,750,000
$272/SF
Building Size
72,610 SF
Asset Type
—
Closing
Nov 20, 2023
About this deal
AI
The property at 425 W Broadway, Glendale, CA, 91204, was sold for $19,750,000.00. The asset encompasses a total square footage of 72,610 and is located in the Glendale market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $19,750,000.00
- Address: 425 W Broadway, Glendale, CA, 91204
- Market: Glendale
- Buyer: Sharp Capital
- Seller: The Blackstone Group
- Buyer's Rep: Mark Shaffer (CBRE)
This transaction involved notable individuals and companies such as Sharp Capital, acting as the buyer, and The Blackstone Group, serving as the seller in this particular sale. Mark Shaffer from CBRE represented the buyer in the transaction.
Players
Glendale 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
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93