East End Capital Acquires 15.0 Acres In Arts District For $240M
SOLD
$240,000,000
California
See Similar DealsIndustrial
Sold 06/15/2022
SOLD
East End Capital Acquires 15.0 Acres In Arts District For $240M
1338 East 6th Street, Los Angeles, California 90021, United States
See Similar DealsIndustrial
Sold 06/15/2022
Summary
CALIFORNIA
Asset Type:Industrial
Transaction Type:Sale
A 15.0-acre industrial property located at 1338 East 6th Street & 1321 Wholesale Street in the Arts District has been sold for a total price of $240,000,000. The property is situated in a prime location within the Arts District and offers significant potential for industrial use.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $240,000,000
- Address: 1338 East 6th Street & 1321 Wholesale Street
- Market: Arts District
- Size: 15.0 acres
The buyer in this transaction is East End Capital, represented by Jonathon Yormak & David Peretz. Their involvement in the deal demonstrates their interest in investing in the industrial real estate sector. This acquisition positions them well in the growing Arts District market, securing a sizeable property for future development or lease opportunities.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$12,799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$852,669.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,137,722.44
Annual Debt Service$13,652,669.31
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