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Meritage Homes Acquires Development Site At 301 East Santa Ana Street For $9.5 Million

Property Image
SOLD
$9,500,000
Sal Provenza
Curt Crandall

California

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Development Site
Sold 12/19/2024
the dealplayerscompscontact
Property Image
SOLD

Meritage Homes Acquires Development Site At 301 East Santa Ana Street For $9.5 Million

301 East Santa Ana Street

See Similar Deals
Development Site
Sold 12/19/2024
Sal Provenza
Curt Crandall
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

The property involved in this transaction is a development site located at 301 East Santa Ana Street in Anaheim. The sale price for this asset was $9,500,000. It will feature the development known as The Mill by Meritage Homes, which will consist of 56 three-story townhomes situated next to the Packing House, a food hall covering 42,000 square feet within downtown Anaheim.

Summary of transaction details:

Sal Provenza and Curt Crandall represented the buyer, Meritage Homes, in this deal. Their involvement facilitated the acquisition of this development site, which aims to enhance the residential landscape of downtown Anaheim with new townhome offerings.

Players

Sal Provenza
WD Land
Sal Provenza
5 deals$123.1M volume(949) 294-6376
BROKER
Curt Crandall
Curt Crandall
5 deals$123.1M volume
BROKER

Details

SOLD
IMAGE: Sal Provenza & Curt Crandall DATE: 12/19/2024 ADDRESS: 301 East Santa Ana Street MARKET: Anaheim ASSET TYPE: Development Site BUYER: Meritage Homes (@MeritageHomes) BROKERS: Sal Provenza & Curt Crandall - WD Land SALE PRICE: $9,500,000 NOTE FROM BROKER: The Mill by Meritage Homes will bring 56 three-story townhomes next to the Packing House, a 42,000-square-foot food hall in downtown Anaheim.

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

$506,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16