facebook
Traded Co logo
Submit
Daily limit: 0/10

Legacy Partners Acquires Del Amo Village Development Site In Torrance For $18.3M

Property Image
SOLD
$18,300,000
Chris Benton
Kevin Shannon
Ken White
+ 2

California

See Similar Deals
Development Site
Sold 05/11/2023
the dealplayerscompscontact
Property Image
SOLD

Legacy Partners Acquires Del Amo Village Development Site In Torrance For $18.3M

1844 Plaza del Amo Torrance, California 90501, USA

See Similar Deals
Development Site
Sold 05/11/2023
Chris Benton
Kevin Shannon
Ken White
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

Newmark, a real estate company, has concluded the $18.3 million sale of Del Amo Village, a multifamily development site in Torrance, California. The 2.8-acre property, located at 1844 Plaza del Amo, has entitlements for 200 market-rate units. Legacy Partners emerged as the buyer in this transaction, taking advantage of the opportunity for new development in a supply-constrained submarket of the South Bay.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $18,300,000
  • Market: Torrance
  • Address: 1844 Plaza del Amo
  • Acres: 2.8

The deal was facilitated by Kevin Shannon, Ken White, Chris Benton, Michael Moore, and Anthony Muhlstein from Newmark, who represented the sellers: PCCP, LaCaze, Muller Company, and Bentall GreenOak.

Players

Ken White
Newmark
Ken White
96 deals$6.1B volume
BROKER
Anthony Muhlstein
Newmark
Anthony Muhlstein
25 deals$1.1B volume
BROKER
Kevin Shannon
Newmark
Kevin Shannon
136 deals$9.1B volume
BROKER
Chris Benton
Newmark
Chris Benton
20 deals$709.6M volume
BROKER
Michael Moore
Newmark
Michael Moore
1 deal$18.3M volume(310) 491-2019
BROKER
LP
Legacy Partners
BUYER

Details

SOLD
IMAGE: 05/11/2023 ADDRESS: 1844 Plaza del Amo MARKET: Torrance ASSET TYPE: Development Site ~ ACRES: 2.8 BUYER: Legacy Partners SELLER: PCCP, LaCaze, Muller Company & Bentall GreenOak BROKERS: Kevin Shannon, Ken White, Chris Benton, Michael Moore & Anthony Muhlstein - Newmark SALE PRICE: $18,300,000 NOTE: Newmark, a real estate company, has concluded the $18.3 million sale of Del Amo Village, a multifamily development site in Torrance, California. The 2.8-acre property has entitlements for 200 market-rate units, and Legacy Partners emerged as the buyer, seizing the opportunity for new development in a supply-constrained submarket of the South Bay.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$976,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,016.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,751.34
Annual Debt Service$1,041,016.03