Updated Nov 28, 2024
Griffis Residential Acquires Multifamily Property In Mission Valley, San Diego For $155.7M
1440 Hotel Circle North
$155,700,000
$1,557/SF
Building Size
99,999 SF
Asset Type
MultiFamily
Closing
May 6, 2021
About this deal
AI
A multifamily property located at 1440 Hotel Cir N in Mission Valley, San Diego has been sold for a total price of $155,700,000. The transaction occurred on 05/07/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $155,700,000
- Address: 1440 Hotel Cir N, Mission Valley, San Diego
- Market: Mission Valley, San Diego
The buyer of this property is Griffis Residential, represented by Ian Griffis. The seller of the property is AEW Capital Management, represented by Jeff Furber. The deal was facilitated by the brokerage firm CBRE.
The multifamily property consists of 350 units, with an average price per unit (PPU) of $444,857.
Players
San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $1.6K per square foot on a published $155.7M for 99,999 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93