Michael Shvo & Serdar Bilgili Acquire Development Site On Wilshire Blvd In Beverly Hills For $130M
SOLD
$130,000,000
California
See Similar DealsDevelopment Site300,000 SF
Sold 05/08/2019
SOLD
Michael Shvo & Serdar Bilgili Acquire Development Site On Wilshire Blvd In Beverly Hills For $130M
9200 Wilshire Blvd, Beverly Hills, CA, USA
See Similar DealsDevelopment Site300,000 SF
Sold 05/08/2019
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$433
Total Square Footage:300,000 SF
Transaction Type:Sale
A development site located at 9200 Wilshire Blvd in Beverly Hills has been sold. The property was purchased by Michael Shvo and Serdar Bilgili from New Pacific Realty Corp. The transaction was facilitated by Lotus Capital Partners. The sale price for the development site was $130 million.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $130 million
- Date: 05/08/2019
- Address: 9200 Wilshire Blvd
- Market: Beverly Hills
Michael Shvo and Serdar Bilgili were the buyers of the property, while the seller was New Pacific Realty Corp. Lotus Capital Partners acted as the broker in this deal. The development site has a total square footage of 300,000. The price per square foot for the property is $422.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$461,862.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$616,266.32
Annual Debt Service$7,395,195.87
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