Manulife Investment Management Acquires Multifamily Asset In Chula Vista For $142.5M
SOLD
$142,500,000
California
See Similar DealsMultiFamily
Sold 05/01/2015
SOLD
Manulife Investment Management Acquires Multifamily Asset In Chula Vista For $142.5M
2816 Cielo Circulo
See Similar DealsMultiFamily
Sold 05/01/2015
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in the transaction is a multi-family asset located at 2816 Cielo Circulo, Chula Vista. The transaction was finalized for a total price of $142,500,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $142,500,000.00
- Address: 2816 Cielo Circulo
- Market: Chula Vista
- Buyer: Manulife Investment Management
- Brokers: Derrek Ostrzyzek (CBRE)
- Sale Date: 05/01/2015
Derrek Ostrzyzek from CBRE represented the buyer, Manulife Investment Management, in this transaction, facilitating the details of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$506,272.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$675,522.70
Annual Debt Service$8,106,272.40
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