HomeFed Corp. Acquires Escondido Multifamily Property For $167.5M
1501 E Grand Ave, Escondido, CA, USA
$167,500,000
$177/SF
Building Size
943,945 SF
Asset Type
MultiFamily
Closing
Dec 3, 2021
AI
HomeFed Corp. has acquired a multifamily property located at 1501 E. Grand Ave. in Escondido. The transaction was facilitated by broker Kevin Mulhern from CBRE. The property consists of 519 units, with each unit having an average price per unit (PPU) of $322,736. The sale price for the property was $167,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $167,500,000
- Units: 519
- PPU: $322,736
- Address: 1501 E. Grand Ave.
- Market: Escondido
Kevin Mulhern from CBRE represented the buyer, HomeFed Corp., in the deal.
Players
Escondido MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93