Updated Oct 28, 2024
Lovett Industrial Acquires Development Site In Highland For $51M
27260 Meines Street, Highland, California 92346, United States
$51,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 5, 2022
About this deal
AI
The development site located at 27260 Meines Street in Highland has been sold in a recent transaction. This property spans across 13 acres and is situated in the Highland market. The sale took place on 09/06/2022, with Lovett Industrial acquiring the site for a total price of $51,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $51,000,000
- Address: 27260 Meines Street
- Market: Highland
- Acres: 13
Tyler Banton, representing Lovett Industrial, acted as the buyer for this transaction. On the other hand, KCB Towers served as the seller. The deal was facilitated by Austin Hill, Tyler Plata, and Holden Edmondson, who are brokers from Lee & Associates.
On the Map
$51,000,000
Development Site
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Players
Highland Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93