Hines Acquires Life Sciences Property In Tustin For $50M
SOLD
$50,000,000
California
See Similar DealsMixed-use115,000 SF
Sold
SOLD
Hines Acquires Life Sciences Property In Tustin For $50M
14191 Myford Road, Tustin, California 92780, United States
See Similar DealsMixed-use115,000 SF
Sold
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$434
Total Square Footage:115000 SF
Transaction Type:Sale
Located in Tustin's life sciences market, the property at 14191 Myford Rd. has been sold in a closed transaction. The transaction took place on 12/28/2021, with a sale price of $50,000,000. The property spans across 115,000 square feet and has a price per square foot of $434. The buyer of the property was Hines, while the seller was New American Funding. Roy Harel from Nublock Partners represented the buyer as the broker in this deal.
Summary of transaction details
- Property Type: Life Sciences
- Transaction Amount: $50,000,000
- Address: 14191 Myford Rd.
- Market: Tustin
In this transaction, Hines emerged as the buyer of the life sciences property located at 14191 Myford Rd. The seller was New American Funding. Roy Harel, representing Nublock Partners, acted as the broker for Hines in this deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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