Clarion Partners & Cityview Acquire Multifamily Property In Burbank For $161M
SOLD
$161,000,000
California
See Similar DealsMultiFamily159,093 SF
Sold 11/11/2021
SOLD
Clarion Partners & Cityview Acquire Multifamily Property In Burbank For $161M
1901 North Buena Vista Street, Burbank, CA 91504, USA
See Similar DealsMultiFamily159,093 SF
Sold 11/11/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,012
Total Square Footage:159,093 SF
Transaction Type:Sale
Clarion Partners and Cityview, represented by Devang Shah, have acquired a multifamily property located at 1901 North Buena Vista Street in Burbank. The property consists of 276 units and was sold by Washington LP for a total sale price of $161,000,000, equating to approximately $583,333 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $161,000,000
- Units: 276
- Price Per Unit: $583,333
Devang Shah represented the buyer, Clarion Partners and Cityview, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$571,998.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$763,222.14
Annual Debt Service$9,158,665.66
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