GLP Capital Partners Acquires 16.3 Acres Industrial Property In Perris For $90M
SOLD
$90,000,000
California
See Similar DealsIndustrial354 SF
Sold 12/20/2022
SOLD
GLP Capital Partners Acquires 16.3 Acres Industrial Property In Perris For $90M
251 E Rider St, Perris, CA 92571
See Similar DealsIndustrial354 SF
Sold 12/20/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$254,237
Total Square Footage:354 SF
Transaction Type:Sale
The industrial property located at 251 East Rider Street in Perris has been sold. The property spans approximately 16.3 acres and is part of the industrial market.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $90,000,000
- Square Footage: 354,810
- Price per Square Foot: $254
- Date of Sale: 12/20/2022
The buyer of the property is GLP Capital Partners, while the seller is WPT Capital Advisors. The deal was facilitated by brokers Michael Kendall, Gian Bruno, Kenny Patricia, Mark Zorn, and Cory Whitman from Colliers. They represented the respective parties involved in the transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99
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