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BP Hotel Group LLC Acquires Development Site In Encino For $5.5M

Property Image
SOLD
$5,500,000

California

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Development Site25,700 SF
Sold 04/07/2020
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Property Image
SOLD

BP Hotel Group LLC Acquires Development Site In Encino For $5.5M

3932 Blue Canyon Drive, Studio City, CA, USA

See Similar Deals
Development Site25,700 SF
Sold 04/07/2020
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$214
Total Square Footage:25,700 SF
Transaction Type:Sale

The development site located at 3932 Blue Canyon Drive in Encino has been sold. The property, which spans 25,700 square feet, was sold for a price of $5,500,000. The buyer, BP Hotel Group LLC, plans to reposition the property into a boutique hotel for future redevelopment.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $5,500,000
  • Address: 3932 Blue Canyon Drive, Encino
  • Market: Encino
  • Asset Type: Development Site

Kelly Betpolice, representing BP Hotel Group LLC, brokered the deal. The seller, Maple Func LLC, agreed to the transaction, which involved a total of 26 units. The price per unit was approximately $211,538, while the price per square foot was $214.01.

Players

Kelly Betpolice
Kidder Mathews
Kelly Betpolice
6 deals$83.7M volume
BROKER

Details

SOLD
IMAGE: Kelly Betpolice DATE: 04/07/2020 ADDRESS: 3932 Blue Canyon Drive MARKET: Encino ASSET TYPE: Development Site BUYER: BP Hotel Group LLC SELLER: Maple Func LLC BROKER: Kelly Betpolice PRICE: $5,500,000 BSF: 25,700 ~ PPBSF: $214.01 UNITS: 26 PPU: $211,538 NOTES: The buyer will reposition the property to a boutique hotel as a future redevelopment.

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