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Skanska USA Acquires Development Site In Beverly Hills For $16M

Property Image
SOLD
$16,000,000

California

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Development Site44,000 SF
Sold
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Property Image
SOLD

Skanska USA Acquires Development Site In Beverly Hills For $16M

8633 Wilshire Blvd, Beverly Hills, Ca, Usa

See Similar Deals
Development Site44,000 SF
Sold
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$363
Total Square Footage:44000 SF
Transaction Type:Sale

The asset involved in this transaction is a development site located at 8633 Wilshire Blvd., Beverly Hills. It was sold for $16,000,000, encompassing 44,000 square feet, resulting in a price per square foot of $363.

Summary of transaction details:

  • Property Type: Development site
  • Transaction Amount: $16,000,000
  • Address: 8633 Wilshire Blvd.
  • Market: Beverly Hills
  • Building Square Feet: 44,000
  • Price per Building Square Foot: $363
  • Buyer: @SkanskaUSA
  • Seller: Amir Dar - Enzo Equities
  • Seller: Isaac Gabai - IAG Capital
  • Seller: Adam Emrani - Lucent Capital
  • Transaction Date: 12/22/2020

The deal was represented by Amir Dar, Isaac Gabai, and Adam Emrani, highlighting their roles in facilitating the transaction while working on behalf of their respective firms, Enzo Equities, IAG Capital, and Lucent Capital.

Players

Adam Emrani
Adam Emrani
4 deals$89.1M volume(310) 876-8456
BROKER

Details

SOLD
IMAGE: Amir Dar, Isaac Gabai & Adam Emrani DATE: 12/22/2020 ADDRESS: 8633 Wilshire Blvd. MARKET: Beverly Hills ASSET TYPE: Development site BUYER: @SkanskaUSA SELLERS: Amir Dar - Enzo Equities Isaac Gabai - IAG Capital Adam Emrani - Lucent Capital PRICE: $16,000,000 BSF: 44,000 ~ PPBSF: $363

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95