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301 S Glendora Ave

MetLife Investment Management Acquires Multifamily Asset In West Covina For $171.5M
SOLDMultiFamily

MetLife Investment Management Acquires Multifamily Asset In West Covina For $171.5M

301 S Glendora Ave

$171,500,000

Building Size

Asset Type

MultiFamily

Closing

Jun 1, 2019

AI

The property involved in this transaction is a multifamily asset located at 301 S Glendora Ave in West Covina. The transaction amount for this sale was $171,500,000.00.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $171,500,000.00
  • Address: 301 S Glendora Ave
  • Market: West Covina
  • Buyer's Name: MetLife Investment Management
  • Broker: Derrek Ostrzyzek, CBRE
  • Sale Date: 06/01/2019

The deal involved MetLife Investment Management as the buyer and was facilitated by broker Derrek Ostrzyzek from CBRE, representing the buyer in this transaction.

Players

Derrek Ostrzyzek

CBRE

Broker

$11.5B

vol

116 deals

Broker
MM
MetLife Investment ManagementBuyer

West Covina MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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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