Penwood Real Estate Acquires Industrial Property In Commerce, CA For $69.8M
5743 Smithway Street
$69,800,000
$303,478/SF
Building Size
230 SF
Asset Type
Industrial
Closing
Apr 5, 2022
AI
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.
Players
Commerce 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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93