Updated Oct 29, 2024
EBS Realty Partners Acquires 6.7 Acre Industrial Property In Irvine For $24M
19 Hughes, Irvine, California 92618, United States
$24,000,000
$87,591/SF
Building Size
274 SF
Asset Type
Industrial
Closing
Jan 9, 2023
About this deal
AI
Located at 19 Hughes Avenue, in Irvine, this industrial property covers an impressive 6.7 acres. The transaction took place on 01/10/2023, with the property being sold by Teva to EBS Realty Partners and Penwood Real Estate Investment Management. The asset consists of 274,000 square feet, with a sale price of $24,000,000, resulting in a price per square foot of $88.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $24,000,000
- Market: Irvine
- ACRES: 6.7
EBS Realty Partners, represented by Patrick Remolacio, along with Penwood Real Estate Investment Management, acquired this industrial property from Teva. Patrick Remolacio acted as the buyer's representative in this deal, which showcases their expertise in the market.
Players
Irvine Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93