Updated Dec 21, 2023
Iconic Equities Acquires 5.6 Acre Development Site In Inland Empire For $12M
Inland Empire, California
$12,000,000
Building Size
—
Asset Type
Development Site
Closing
Jun 28, 2022
About this deal
AI
A development site spanning approximately 5.6 acres in the Inland Empire has been sold for a total of $12,000,000. The transaction took place on June 29, 2022. The site, located in the Inland Empire market, offers significant potential for future development.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Market: Inland Empire
- Acres: 5.6
The buyer for this transaction was Iconic Equities, represented by Timothy Bishop, and Leste Real Estate U.S., represented by Josh Patankin. Their involvement in the deal brings valuable expertise and resources to the project.
Players
Chino Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93