Updated Oct 29, 2024
Triple Five Group Acquires Warner Center Development In Los Angeles For $150M
6633 Canoga Avenue, Canoga Park, CA 91303
$150,000,000
$960/SF
Building Size
156,227 SF
Asset Type
Development Site
Closing
Apr 16, 2018
About this deal
AI
A development property located at 6633 Canoga Avenue in Los Angeles, specifically in the Warner Center market, has been sold. The property encompasses 47 acres and was sold for a price of $150,000,000, resulting in a price per square foot of $73. The sale was completed on April 17, 2018.
Summary of transaction details
- Property Type: Development
- Transaction Amount: $150,000,000
- Address: 6633 Canoga Avenue, Los Angeles
- Market: Warner Center
- Acres: 47 Acres
- Price per Square Foot: $73
The seller of this property was Aerojet Rocketdyne, represented by Eileen Drake. On the other hand, the buyer was Triple Five Group, with the Ghermezian Family acting as their representatives. It's worth noting that Nader Ghermezian, the owner of the Mall of America, is involved in this transaction.
On the Map
$150,000,000
$960/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93