KKR Real Estate Partners Americas II Fund Acquires Property From Rockefeller Group For $43.5M
SOLD
$43,500,000
+ 1
California
See Similar DealsIndustrial406,650 SF
Sold 01/31/2019
SOLD
KKR Real Estate Partners Americas II Fund Acquires Property From Rockefeller Group For $43.5M
4150 Patterson Ave, Perris, CA, 92571
See Similar DealsIndustrial406,650 SF
Sold 01/31/2019
+ 1
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$107
Total Square Footage:406,650 SF
Transaction Type:Sale
The property involved in this transaction is an industrial distribution building situated at 4150 Patterson Ave, Perris, CA, 92571. The building encompasses 406,650 square feet and was part of the Optimus Logistics Center in Perris. The sale price for this newly constructed asset was $43,500,000.00.
Summary of transaction details:
- Property Type: Industrial Distribution Building
- Transaction Amount: $43,500,000.00
- Address: 4150 Patterson Ave, Perris, CA, 92571
- Market: Perris
- Square Footage: 406,650
- Buyer: KKR Real Estate Partners Americas II Fund
- Seller: Rockefeller Group
- Completion Date of Optimus Logistics Center: September 2018
Mike McCrary from JLL represented both the buyer, KKR Real Estate Partners Americas II Fund, and the seller, Rockefeller Group, in this transaction. Other representatives from JLL included Peter McWilliams, Sharon Wortmann, and Scott Coyle.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,320,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$154,546.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$206,212.19
Annual Debt Service$2,474,546.31
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