Madison Capital & Meadow Partners Acquire Mixed-use Property In Richmond For $103.7M
SOLD
$103,700,000
+ 6
California
See Similar DealsIndustrial479,000 SF
Sold 06/17/2022
SOLD
Madison Capital & Meadow Partners Acquire Mixed-use Property In Richmond For $103.7M
1414 Harbour Way South, Richmond, California 94804, United States
See Similar DealsIndustrial479,000 SF
Sold 06/17/2022
+ 6
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$216
Total Square Footage:479,000 SF
Transaction Type:Sale
The mixed-use property located at 1414 Harbour Way S. in Richmond has been sold in a transaction valued at $103,700,000. The property spans an area of 478,761 square feet, resulting in a price-per-square-foot of $216. The sale took place on 06/17/2022.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $103,700,000
- Address: 1414 Harbour Way S., Richmond
- Market: Richmond
The buyer of the property is Madison Capital and Meadow Partners, while Orton Development served as the seller. The deal was facilitated by Seth Siegel, Steve Hermann, Ryan Venezia, Rick Ryan, Kevin Flemming, Courtney Trunnell, Keith Padien, Ted Anderson, Andrew Schmieder, and Ryan Hattersley from Cushman & Wakefield.
Players
BUYER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,530,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$368,424.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$491,590.91
Annual Debt Service$5,899,090.86
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