Landmark Properties Acquires Development Site On South Figueroa Street In Los Angeles For $114.9M
SOLD
$114,865,000
+ 3
California
See Similar DealsDevelopment Site
Sold 01/17/2023
SOLD
Landmark Properties Acquires Development Site On South Figueroa Street In Los Angeles For $114.9M
3900 South Figueroa Street
See Similar DealsDevelopment Site
Sold 01/17/2023
+ 3
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale
The Development Site located at 3900 South Figueroa Street in Los Angeles has been sold in a closed transaction. The property, which spans an undisclosed square footage, was purchased by Landmark Properties from Ventus Group for a total sale price of $114,865,000.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $114,865,000
- Buyer: Landmark Properties
- Seller: Ventus Group
- Brokers: Kevin Shannon, Ken White, Ryan Lang, Greg Galusha, Chris Benton, Anthony Muhlstein, Gabe Munson - Newmark
The deal was facilitated by the brokers Kevin Shannon, Ken White, Ryan Lang, Greg Galusha, Chris Benton, Anthony Muhlstein, and Gabe Munson from Newmark. The transaction represents a significant milestone for both the buyer, Landmark Properties, and the seller, Ventus Group, in the Los Angeles market.
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,126,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$408,091.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$544,518.70
Annual Debt Service$6,534,224.42
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