Updated Oct 29, 2024
Majestic Asset Management Inc. Acquires Goleta Office Building For $13.1M
120 Cremona Drive, Goleta, CA, USA
$13,125,000
$226/SF
Building Size
58,000 SF
Asset Type
Office
Closing
Dec 22, 2020
About this deal
AI
Majestic Asset Management Inc. has acquired an office property located at 120 Cremona Drive in Goleta. The property, with a size of 58,000 square feet, was sold by The Agoura Hills for a total price of $13,125,000. This translates to a price per square foot of $226.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,125,000
- Address: 120 Cremona Drive, Goleta
- Market: Goleta
The deal was facilitated by Hayes Commercial, with Eric Heuser representing both the buyer, Majestic Asset Management Inc., and the seller, The Agoura Hills.
Players
Goleta Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.21%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93