Brian Rupp Of Shopoff Realty Investments Acquires Development Site In Desert Hot Springs For $39.5M
64200 20th Ave, Desert Hot Springs, Ca 92258
$39,500,000
$14/SF
Building Size
2,809,620 SF
Asset Type
Development Site
Closing
Jun 10, 2024
AI
Development site located in Desert Hot Springs, CA, with a sale price of $39,500,000. The property encompasses a total building square footage of 2,809,620, resulting in a price per building square foot of $14.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $39,500,000
- Buyer: Brian Rupp, Executive Vice President - Shopoff Realty Investments
- Seller: Travis King - REALM, LP
- Brokers: Ian DeVries & Chris DeVries - Colliers
This transaction involved key representatives in the real estate sector, with Brian Rupp overseeing the acquisition on behalf of Shopoff Realty Investments. The sale was facilitated through the brokerage expertise of Ian DeVries and Chris DeVries, representing the seller, Travis King of REALM, LP.
Players
North Palm Springs 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93