Updated Dec 2, 2024
Woodbine Development Corp. Acquires Culver City Hotel For $151.5M
6161 West Centinela Avenue, Culver City, CA 90230, USA
$151,500,000
$594/SF
Building Size
255,000 SF
Asset Type
Hotel
Closing
Jul 10, 2018
About this deal
AI
The hotel located at 6161 W. Centinela Ave in Culver City, Los Angeles, has been sold for a total price of $151,500,000. The property spans across 255,000 square feet, resulting in a price per square foot of $594. The seller of the hotel was Carlyle Group of Washington, D.C., while the buyer was Woodbine Development Corp.
Summary of transaction details:
- Property Type: hotel
- Transaction Amount: $151,500,000
- Address: 6161 W. Centinela Ave, Los Angeles
- Market: Culver City
- Size: 255,000 square feet
- Price per Square Foot: $594
Patrick Deming and Andrew Holt of Eastdil Secured served as the brokers representing the seller, while Woodbine Development Corp. represented themselves as the buyer during the transaction.
Players
Culver City Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93