Laguna Point Properties Acquires Barry Shy's Multifamily In Downtown Los Angeles
SOLD
$402,000,000
California
See Similar DealsMultiFamily
Sold
SOLD
Laguna Point Properties Acquires Barry Shy's Multifamily In Downtown Los Angeles
Downtown, Los Angeles, California, United States
See Similar DealsMultiFamily
Sold
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
Barry Shy has sold a multifamily property in Downtown Los Angeles for a total price of $402,000,000. The property, consisting of 1,037 units, was purchased by Laguna Point Properties. The sale was facilitated by Gabriel Guerrero and Justin Chu from Keller Williams Commercial.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $402,000,000
- Units: 1,037
- Price Per Unit (PPU): $387,657
This transaction took place on 04/21/2022 in the Downtown Los Angeles market. Barry Shy acted as the seller of the property, while Laguna Point Properties served as the buyer. The sale was brokered by Gabriel Guerrero and Justin Chu from Keller Williams Commercial.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$21,439,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,428,221.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,905,685.09
Annual Debt Service$22,868,221.09
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