Hanes Investment Realty Acquires Multifamily Property From Lynn Villas For $27.4 Million
693 Mccloud Avenue
$27,400,000
$324/SF
Building Size
84,534 SF
Asset Type
MultiFamily
Closing
Jun 25, 2025
AI
A multifamily property located at 693 Mccloud Avenue in Thousand Oaks was sold for $27,400,000. The asset features 89 units and spans a total of 84,534 square feet, resulting in a price per unit of $307,865 and a price per square foot of $324.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $27,400,000
- Units: 89
- Square Footage: 84,534
- Price Per Unit: $307,865
- Price Per Square Foot: $324
- Buyer: Hanes Investment Realty
- Seller: Lynn Villas
- Broker Representatives: Adrienne Barr, George Spadier, Keith Rosso & Jeremy Kanter - Berkadia
- Loan Amount: $17,500,000
- Loan Type: Fixed-rate bridge loan
- Lender: Correspondent insurance company
Berkadia facilitated the transaction, with the involvement of representatives Adrienne Barr, George Spadier, Keith Rosso, and Jeremy Kanter, organized to support the acquisition and the corresponding financing arrangements.
Players
Thousand Oaks MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93