Updated Dec 2, 2024
Rexford Industrial Realty Acquires Santa Clarita Industrial Property For $58.5M
24903 Avenue Kearny, Valencia, California 91355, United States
$58,500,000
$273/SF
Building Size
214,000 SF
Asset Type
Industrial
Closing
Feb 14, 2022
About this deal
AI
Rexford Industrial Realty has acquired an industrial property located at 24903 Avenue Kearny in Santa Clarita. The property spans 214,000 square feet and was sold for a total of $58,500,000. With a price per square foot of $273, this transaction highlights the strong demand for industrial assets in the Santa Clarita market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $58,500,000
- Address: 24903 Avenue Kearny, Santa Clarita
- Market: Santa Clarita
- Buyer: Rexford Industrial Realty - Howard Schwimmer & Michael Frankel
- Seller: Dedeaux Properties & Stockbridge Capital Partners - Terry Fancher & Sol Raso
This transaction was facilitated by Howard Schwimmer and Michael Frankel, representing Rexford Industrial Realty. On the other side, Terry Fancher and Sol Raso acted on behalf of the sellers, Dedeaux Properties and Stockbridge Capital Partners. With the successful acquisition of this industrial property, Rexford Industrial Realty continues to strengthen its portfolio in the Santa Clarita market.
On the Map
$58,500,000
$273/SF
Industrial
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Players
Valencia 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93