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Standard Communities Acquires Multifamily Property In Los Angeles From Jefferson Southgate For $130M

Property Image
SOLD
$130,000,000
Stewart (Stew) Weston
Dean Zander

California

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MultiFamily250,000 SF
Sold 05/20/2022
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Property Image
SOLD

Standard Communities Acquires Multifamily Property In Los Angeles From Jefferson Southgate For $130M

10930 Garfield Ave, South Gate, California 90280, United States

See Similar Deals
MultiFamily250,000 SF
Sold 05/20/2022
Stewart (Stew) Weston
Dean Zander
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$520
Total Square Footage:250,000 SF
Transaction Type:Sale

The multifamily property located at 10930 Garfield Ave in Los Angeles has been sold. The transaction took place on May 20, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $130,000,000
  • Units: 244
  • Price Per Unit: $532,786
  • Square Feet: 2,500,000
  • Price Per Square Foot: $52

The buyer of the property is Standard Communities, while the seller is Jefferson Southgate. The deal was facilitated by brokers Dean Zander and Stew Weston from CBRE.

Players

Dean Zander
Newmark
Dean Zander
34 deals$2.1B volume(310) 407-6522
BROKER
Stewart (Stew) Weston
Stewart Weston
25 deals$1.9B volume(562) 688-4500
BROKER
Standard Communities
Standard Communities
BUYER

Details

SOLD
IMAGE: Dean Zander & Stew Weston DATE: 05/20/2022 ADDRESS: 10930 Garfield Ave. MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Standard Communities SELLER: Jefferson Southgate BROKERS: Dean Zander (@Deanzzz) & Stew Weston (@StewWeston) - CBRE (@CBRE) SALE PRICE: $130,000,000 UNITS: 244 ~ PPU: $532,786 SF: 2,500,000 ~ PPSF: $52

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$461,862.55
Cash-on-Cash Return-1.27%
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