Updated Oct 29, 2024
Union Bank Acquires 12.5 Acres Of Land In Riverside For $53.5M
6639 Hillside Avenue, Riverside, California 92504, United States
$53,500,000
Building Size
—
Asset Type
—
Closing
Jan 24, 2023
About this deal
AI
The property asset involved in this transaction is a 12.5-acre land located at 6639 Hillside Avenue in Riverside. The sale took place on January 24, 2023, with a sale price of $53,500,000. The land is owned by Orbis Real Estate Partners, represented by Tom Money & Grant Ross, and was bought by Union Bank.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $53,500,000
- Address: 6639 Hillside Avenue
- Market: Riverside
- Acres: 12.5
Tom Money & Grant Ross, acting as representatives for Orbis Real Estate Partners, facilitated the sale of the land to Union Bank. The transaction highlights the involvement of key individuals and companies in the real estate deal.
Players
Riverside CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93