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California, United States

CBRE Socal Retail Advisory Acquires 22-location Portfolio In California For $138M
SOLD

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

Simon Mattox

Kidder Mathews

Broker

$414.9M

vol

20 deals

Broker

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