Scott McCallum And Surya Prabhakar Of Blackstone Acquire Rancho Cucamonga Multifamily For $90 Million
SOLD
$90,000,000
California
See Similar DealsMultiFamily257,374 SF
Sold 04/01/2025
SOLD
Scott McCallum And Surya Prabhakar Of Blackstone Acquire Rancho Cucamonga Multifamily For $90 Million
10757 Lemon Avenue
See Similar DealsMultiFamily257,374 SF
Sold 04/01/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$349
Total Square Footage:257,374 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily asset located at 10757 Lemon Avenue in Rancho Cucamonga. The sale price of the asset was $90,000,000, encompassing 290 units. The total square footage of the property is 257,374, with a price per unit of $310,344 and a price per square foot of $349.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $90,000,000
- Units: 290
- Square Footage: 257,374
- Price Per Unit: $310,344
- Price Per Square Foot: $349
- Buyer: Scott McCallum & Surya Prabhakar - Blackstone
- Seller: Sean Gulian - Nuveen
- Broker: Blake Rogers - JLL
The key individuals involved in the deal are Scott McCallum and Surya Prabhakar representing the buyer, Blackstone, while Sean Gulian represented the seller, Nuveen. Blake Rogers served as the broker for this transaction, facilitating the sale between the parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99
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