San Diego State University Acquires Development Site In Mission Valley For $88M
SOLD
$88,000,000
California
See Similar DealsDevelopment Site5,880,600 SF
Sold 07/06/2020
SOLD
San Diego State University Acquires Development Site In Mission Valley For $88M
Mission Valley, San Diego, CA, USA
See Similar DealsDevelopment Site5,880,600 SF
Sold 07/06/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$15
Total Square Footage:5,880,600 SF
Transaction Type:Sale
A development site in Mission Valley, San Diego has been sold for $88,000,000. The property spans over 135 acres and was purchased by San Diego State University, represented by Adela de la Torre. The seller of the site was the San Diego City Council, represented by Kevin Faulconer.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $88,000,000
- Location: Mission Valley, San Diego
- Buyer: San Diego State University - Adela de la Torre
- Seller: San Diego City Council - Kevin Faulconer
- Acres: 135
The purchase of this development site marks an important step for San Diego State University as they expand their campus. Adela de la Torre, representing the university, negotiated the deal with Kevin Faulconer, representing the San Diego City Council. The acquisition of this sizable property will provide opportunities for future development and growth for the university.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$312,645.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$417,164.90
Annual Debt Service$5,005,978.75
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