Updated Nov 27, 2024
Blackstone Acquires Industrial Property In Lincoln Heights For $166M From Forever21
3880 North Mission Road, Los Angeles, CA 90031, USA
$166,000,000
$79/SF
Building Size
2,100,000 SF
Asset Type
Industrial
Closing
Feb 5, 2019
About this deal
AI
Located in Lincoln Heights, the industrial property at 3880 N. Mission Rd. has been sold in a closed transaction. The property, spanning approximately 2.1 million square feet, was acquired for a total price of $166 million. This translates to a price per square foot of $79.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $166 million
- Address: 3880 N. Mission Rd.
- Market: Lincoln Heights
The buyer of the property was Blackstone, a prominent investment firm. On the selling side, Forever21 completed the transaction. Representatives from Blackstone and Forever21 facilitated the deal.
Players
Los Angeles 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93