Standard Communities, Faring & California Statewide Development Authority Acquire Multifamily Asset In Hawthorne For $144M
SOLD
$144,000,000
California
See Similar DealsMultiFamily201,783 SF
Sold 12/01/2021
SOLD
Standard Communities, Faring & California Statewide Development Authority Acquire Multifamily Asset In Hawthorne For $144M
12530 Crenshaw Boulevard, Hawthorne, CA 90250, USA
See Similar DealsMultiFamily201,783 SF
Sold 12/01/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$713
Total Square Footage:201,783 SF
Transaction Type:Sale
The multifamily property located at 12530 Crenshaw Boulevard in Hawthorne has been sold for $144,000,000. The property consists of 230 units, with an average price per unit of $626,086. The total square footage of the property is 201,783, and the price per square foot is $713.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $144,000,000
- Units: 230
- Price per Unit: $626,086
- Square Footage: 201,783
- Price per Square Foot: $713
The buyer of the property is Standard Communities, Faring, and the California Statewide Development Authority. They have acquired the property from The Dinerstein Companies. Sean Deasy, Peter Yorck, and Nick Lavin from JLL Capital Markets represented both the buyer and seller in this transaction.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,680,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$511,601.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$682,633.47
Annual Debt Service$8,191,601.58
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