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Northwestern Mutual Sells Oxnard Multifamily Property For $92.25M With Berkadia Brokers

Property Image
SOLD
$92,250,000
Mike Smith
Joe Leon
Jim Fisher
+ 1

California

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MultiFamily259,374 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Northwestern Mutual Sells Oxnard Multifamily Property For $92.25M With Berkadia Brokers

2060 Zocolo St, Oxnard, CA 93030, USA

See Similar Deals
MultiFamily259,374 SF
Sold
Mike Smith
Joe Leon
Jim Fisher
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$355
Total Square Footage:259,374 SF
Transaction Type:Sale

Located at 2060 Zocolo St in Oxnard, the recently closed multifamily property transaction was facilitated by Mike Smith, Jim Fisher, Michael Thagard, and Joe Leon from Berkadia, who represented the seller, Northwestern Mutual. The property consists of 272 units, offering a total square footage of 259,374. The transaction closed on 5th May 2020 with a sale price of $92,250,000. The price per square foot was $355.66, and the price per unit was $338,970.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $92,250,000
  • Square Footage: 259,374
  • Address: 2060 Zocolo St, Oxnard
  • Market: Oxnard

The successful completion of this transaction showcases the expertise of the brokerage team from Berkadia, including Mike Smith, Jim Fisher, Michael Thagard, and Joe Leon. Their efforts in representing Northwestern Mutual as sellers were instrumental in finalizing the deal for the multifamily property.

Players

Michael Thagard
Michael Thagard
2 deals$149.8M volume(949) 223-0610
BROKER
Mike Smith
Lee & Associates
Mike Smith
6 deals$300.6M volume(323) 767-2109
BROKER
Jim Fisher
Compass
Jim Fisher
7 deals$384.4M volume
BROKER
Joe Leon
Joe Leon
7 deals$494.8M volume
BROKER
Northwestern Mutual
Northwestern Mutual
SELLER
Northwestern Mutual
Northwestern Mutual
LENDER

Details

SOLD
IMAGE: Mike Smith, Jim Fisher, Michael Thagard & Joe Leon DATE: 05/05/2020 ADDRESS: 2060 Zocolo St MARKET: Oxnard ASSET TYPE: Multifamily SELLER: Northwestern Mutual BROKERS: Mike Smith, Jim Fisher, Michael Thagard, Joe Leon @Berkadia PRICE: $92,250,000 SF: 259,374 PPSF: $355.66 UNITS: 272 PPU: $338,970

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,920,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$327,744.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$437,312.06
Annual Debt Service$5,247,744.77