Updated Oct 29, 2024
NexPoint Real Estate Advisors Acquires Industrial Property In Temecula For $190M
41915 Business Park Drive
$190,000,000
$422/SF
Building Size
450,000 SF
Asset Type
Industrial
Closing
Aug 8, 2023
About this deal
AI
A 450,000 sq. ft. industrial and lab property located at 41915 Business Park Drive in Temecula, California, has been sold for $190 million. The property was purchased by NexPoint Real Estate Advisors, represented by Brian Mitts, while CMP Management acted as the seller. The transaction took place in the Temecula market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $190,000,000
- Address: 41915 Business Park Drive, Temecula
- Buyer: NexPoint Real Estate Advisors - Brian Mitts
- Seller: CMP Management
The purchase of this fully occupied property generates $11.72 million in net operating income, resulting in a 6.17 percent capitalization rate. The deal was financed by KeyBank and Argentic Real Estate Finance.
On the Map
$190,000,000
$422/SF
Industrial
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Players
Temecula 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93