Penwood Real Estate Acquires Industrial Property In Commerce, CA For $69.8M
SOLD
$69,800,000
California
See Similar DealsIndustrial230 SF
Sold 04/05/2022
SOLD
Penwood Real Estate Acquires Industrial Property In Commerce, CA For $69.8M
5743 Smithway Street
See Similar DealsIndustrial230 SF
Sold 04/05/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$303,478
Total Square Footage:230 SF
Transaction Type:Sale
The property asset involved in the transaction is an industrial facility located at 5743 Smithway St, Commerce, CA. The transaction was finalized for a total amount of $69,800,000.00 and encompasses a total area of 230 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $69,800,000.00
- Address: 5743 Smithway St, Commerce, CA
- Square Footage: 230
- Seller: Smithway Associates
- Buyer: Penwood Real Estate Investment Management
- Seller's Representative: Colin Ryan - JLL
- Broker: Ryan Rothstein-Serling - Marcus & Millichap
The deal included prominent individuals and companies in the real estate sector, highlighting the cooperation between Smithway Associates and Penwood Real Estate Investment Management. Colin Ryan from JLL represented the seller while Ryan Rothstein-Serling from Marcus & Millichap acted as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,722,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$247,984.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$330,887.61
Annual Debt Service$3,970,651.32
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