CBRE Socal Retail Advisory Acquires 22-location Portfolio In California For $138M
California, United States
$138,000,000
$549,800/SF
Building Size
251 SF
Asset Type
—
Closing
Dec 15, 2022
AI
CBRE represented the seller, Socal Retail Advisory, in a package deal involving a portfolio of 22 locations in Southern and Northern California. The properties were sold for a total price of $138,000,000, with a total square footage of 251,996. The sale price per square foot was $548. This transaction took place on December 15, 2022. The portfolio included various types of assets.
Summary of transation details
- Property Type: Package Deal
- Transaction Amount: $138,000,000
- Address: Portfolio - 22 Locations (Southern & Northern California)
- Market: California
- Square Footage: 251,996
- Price per Square Foot: $548
Bill Durslag, Dan Riley, Austin Wolitarsky, Simon Mattox, and Kyle Woods from Socal Retail Advisory at CBRE represented the seller in this transaction. They played a key role in facilitating the deal between the seller and the buyer. The involvement of these individuals demonstrates the expertise and experience of CBRE in managing such substantial transactions.
Players
Friant 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93