Updated Feb 3, 2025
Meritage Homes Acquires Development Site At 301 East Santa Ana Street For $9.5 Million
301 East Santa Ana Street
$9,500,000
Building Size
—
Asset Type
Development Site
Closing
Dec 19, 2024
About this deal
AI
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:
- Property Type: Development Site
- Transaction Amount: $9,500,000
- Buyer: Meritage Homes
- Address: 301 East Santa Ana Street
- Market: Anaheim
- Brokers: Sal Provenza & Curt Crandall - WD Land
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.
Anaheim Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93