Hanes Investment Realty Acquires Multifamily Property From Lynn Villas For $27.4 Million
SOLD
$27,400,000
+ 1
California
See Similar DealsMultiFamily84,534 SF
Sold 06/25/2025
SOLD
Hanes Investment Realty Acquires Multifamily Property From Lynn Villas For $27.4 Million
693 Mccloud Avenue
See Similar DealsMultiFamily84,534 SF
Sold 06/25/2025
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$324
Total Square Footage:84,534 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,461,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$97,346.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$129,889.98
Annual Debt Service$1,558,679.75
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