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3702 Via De La Valle

Marc Brutten Acquires Mixed-Use Property In Del Mar For $18M
SOLDMixed-use

Marc Brutten Acquires Mixed-Use Property In Del Mar For $18M

3702 Via De La Valle & 3790 Via De La Valle

$18,000,000

$141/SF

Building Size

127,258 SF

Asset Type

Mixed-use

Closing

Jul 2, 2024

AI

The property involved in the transaction is a mixed-use asset located at 3702 & 3790 Via De La Valle in Del Mar. The property spans across 3.66 acres and was sold for $18,000,000. It consists of 63,629 square feet, with a price per square foot of $283. The buyer, Marc Brutten of Brixton Capital, acquired Polo Plaza from the seller, ASB Capital Management. The transaction was facilitated by brokers Brad Tecca, Brunson Howard, Tanner Harris, and Rick Reeder from newmark'>Newmark, along with Brooks Campbell and Peter Curry from Cushman & Wakefield.

Summary of transaction details:

The sale of Polo Plaza in Del Mar, a property with 69% occupancy at the time of the deal, reflects investor interest in the economic growth and premium mixed-use assets in Coastal San Diego County. The property boasts diverse tenants and premium amenities, making it an attractive investment opportunity for Marc Brutten and Brixton Capital.

Players

Brooks Campbell

Cushman & Wakefield

Broker

$80.6M

vol

8 deals

Broker

Del Mar Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.88%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93