UCOP Acquires Santa Barbara Office Building For $104 Million
SOLD
$104,000,000
+ 1
California
See Similar DealsOffice122,925 SF
Sold 06/22/2022
SOLD
UCOP Acquires Santa Barbara Office Building For $104 Million
100 Innovation Place, Summerland, California 93067, United States
See Similar DealsOffice122,925 SF
Sold 06/22/2022
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$846
Total Square Footage:122,925 SF
Transaction Type:Sale
100 Innovation Pl. in Santa Barbara has been sold in a recent transaction. The property is an office building with a total area of 122,925 square feet. The sale price for this transaction was $104,000,000, resulting in a price per square foot of $846. The transaction took place on 06/22/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $104,000,000
- Address: 100 Innovation Pl.
- Market: Santa Barbara
- Buyer: UCOP
- Seller: QAD
- Brokers: Kevin Donner, Rick Ingwers, Benjamin Lushing & Brad Rogers - Cushman & Wakefield
The buyers in this transaction are UCOP, while the sellers are QAD. The deal was facilitated by Kevin Donner, Rick Ingwers, Benjamin Lushing, and Brad Rogers from Cushman & Wakefield. These brokers played a key role in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$369,490.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$493,013.06
Annual Debt Service$5,916,156.70
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