James Packer Acquires Beverly Hills Property For $60M From Stuart & Stephanie Liner
SOLD
$60,000,000
California
See Similar DealsMultiFamily29,000 SF
Sold 09/17/2018
SOLD
James Packer Acquires Beverly Hills Property For $60M From Stuart & Stephanie Liner
Beverly Hills, CA, USA
See Similar DealsMultiFamily29,000 SF
Sold 09/17/2018
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$2,069
Total Square Footage:29,000 SF
Transaction Type:Sale
James Packer has purchased a property in Beverly Hills for approximately $60,000,000. The property spans 29,000 square feet, resulting in a price per square foot of $2,068. The transaction took place on September 17, 2018.
Summary of transaction details:
- Property Type: Residential
- Transaction Amount: $60,000,000 (approx.)
- Market: Beverly Hills
- Sellers: Stuart & Stephanie Liner
Prior to the sale to the Liners, the property was owned by Danny DeVito for 20 years. After purchasing the property, the Liners redeveloped it before selling to James Packer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,167.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,430.61
Annual Debt Service$3,413,167.33
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