Avalon Hollywood LP Acquires Land From Tinseltown Studios LLC For $99 Million In Los Angeles
SOLD
$99,000,000
California
See Similar DealsLand113,907 SF
Sold 07/16/2015
SOLD
Avalon Hollywood LP Acquires Land From Tinseltown Studios LLC For $99 Million In Los Angeles
6677 Santa Monica Blvd
See Similar DealsLand113,907 SF
Sold 07/16/2015
Summary
CALIFORNIA
Asset Type:Land
Price Per Square Foot:$869
Total Square Footage:113,907 SF
Lot Square Footage:256220 SF
Transaction Type:Sale
The transaction involved the sale of a land asset located at 6677 Santa Monica Blvd, in the Los Angeles market. The property was sold for a total amount of $99,000,000.00 and spans a square footage of 113,907.0.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $99,000,000.00
- Address: 6677 Santa Monica Blvd
- Market: Los Angeles
- Square Footage: 113,907.0
- Buyer: Avalon Hollywood LP
- Seller: Tinseltown Studios LLC
- Brokers Involved: Jeff Luster, Joe Bolognese, Anthony Muhlstein (Newmark), Peter Sherman (Avison Young), Curtis Palmer
The key individuals involved in this transaction include the buyer, Avalon Hollywood LP, and the seller, Tinseltown Studios LLC, each represented by various brokers throughout the deal. The broker representation involved Anthony Muhlstein from Newmark, and Peter Sherman from Avison Young, among others, who facilitated the transaction process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,280,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$351,726.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$469,310.51
Annual Debt Service$5,631,726.09
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