Prudential Financial Inc. Greystar Real Estate Partners And Legacy Partners Acquire Multifamily In Marina Del Rey For $48M
SOLD
$48,000,000
California
See Similar DealsMultiFamily
Sold 12/01/2016
SOLD
Prudential Financial Inc. Greystar Real Estate Partners And Legacy Partners Acquire Multifamily In Marina Del Rey For $48M
14126 Marquesas Way
See Similar DealsMultiFamily
Sold 12/01/2016
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in the transaction is a MultiFamily asset located at 14126 Marquesas Way in Marina Del Rey. The transaction was completed for a total amount of $48,000,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $48,000,000.00
- Address: 14126 Marquesas Way
- Market: Marina Del Rey
- Buyer: Prudential Financial, Inc., Greystar Real Estate Partners, and Legacy Partners
- Brokers: Derrek Ostrzyzek, CBRE
The deal featured key participation from Prudential Financial, Inc., Greystar Real Estate Partners, and Legacy Partners as the buyers. Derrek Ostrzyzek of CBRE represented the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,560,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$170,533.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$227,544.49
Annual Debt Service$2,730,533.86
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