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Majestic Asset Management Acquires Office Building In El Monte, CA For $73M

Property Image
SOLD
$73,000,000

California

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Property Image
SOLD

Majestic Asset Management Acquires Office Building In El Monte, CA For $73M

9320 Telstar Ave

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Summary

CALIFORNIA
Transaction Type:Sale

The property asset involved in this transaction is an office space located at 9320 Telstar Ave in El Monte, CA. The sale was completed for a total amount of $73,000,000, translating to approximately $293 per square foot over a total area of 248,961 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $73,000,000
  • Address: 9320 Telstar Ave
  • Market: El Monte, CA
  • Sale Price Per Square Foot: $293
  • Square Footage: 248,961
  • Buyer: Majestic Asset Management
  • Seller: Rising Realty Partners
  • Broker: Michael Longo, Todd Tydlaska, Sean Sullivan, Darla Longo, Will Pike, Melissa Moock, Anthony DeLorenzo & Mark Shaffer - CBRE

Key individuals and companies involved in the deal include Majestic Asset Management as the buyer and Rising Realty Partners as the seller. The transaction was brokered by a team from CBRE, consisting of multiple representatives, indicating a collaborative effort in facilitating this sale.

Players

BUYER

Details

SOLD
IMAGE: Justin Tu, Chris Rising & John Golden DATE: 08/25/2022 ADDRESS: 9320 Telstar Ave MARKET: El Monte, CA ASSET TYPE: Office BUYER: Majestic Asset Management SELLER: Rising Realty Partners BROKER: Michael Longo, Todd Tydlaska, Sean Sullivan, Darla Longo, Will Pike, Melissa Moock, Anthony DeLorenzo & Mark Shaffer - CBRE SALE PRICE: $73,000,000 SF: 248,961 ~ PPSF: $293

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,893,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$259,353.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$346,057.24
Annual Debt Service$4,152,686.91