MetLife Investment Management Acquires Multifamily Asset In West Covina For $171.5M
SOLD
$171,500,000
California
See Similar DealsMultiFamily
Sold 06/01/2019
SOLD
MetLife Investment Management Acquires Multifamily Asset In West Covina For $171.5M
301 S Glendora Ave
See Similar DealsMultiFamily
Sold 06/01/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$609,303.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$812,997.50
Annual Debt Service$9,755,969.94
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