Westview Capital Acquires La Vista Apartments In Santa Maria From Kennedy Wilson For $116M
740 South Western Avenue
$116,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 30, 2024
AI
The transaction involves La Vista Apartments, a multifamily asset located at 740 South Western Avenue in Santa Maria, California. The asset comprises 460 residential units and was sold for a total price of $116,000,000, equating to a per unit price of $252,174. This sale sets a new sales record for Santa Barbara County.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $116,000,000
- Units: 460
- Price Per Unit: $252,174
- Buyer: Westview Capital
- Seller: Kennedy Wilson
- Brokers: Kevin Green & Gregory Harris - Institutional Property Advisors (IPA)
- Date of Transaction: 12/30/2024
- Market: Santa Maria
Key individuals involved in the transaction are Kevin Green and Gregory Harris, who represented the Institutional Property Advisors (IPA) in the deal, facilitating the transaction between Westview Capital and Kennedy Wilson.
Players
Santa Maria 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93