Waterford Property Company Acquires Multifamily Complex In Glendale For $300M
633 North Central Avenue, Glendale, CA, USA
$300,000,000
$461,538/SF
Building Size
650 SF
Asset Type
MultiFamily
Closing
Mar 16, 2021
AI
The multifamily property located at 633 North Central Avenue in Glendale has been sold. The transaction took place on 03/17/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $300,000,000
- Units: 507
- Price per Unit: $591,715
The buyer of the property is Waterford Property Company, along with John Drachman, Sean Rawson, Yashaar Amin, and California Statewide Communities Development Authority (CSCDA). They were represented by Joseph Smolen, Geoff Boler, and Lee Redmond from Eastdil Secured.
Players
Glendale 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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93