Updated Dec 11, 2024
Rockwood Capital Acquires Santa Monica Office Building For $65.7M
1314 7th Street, Santa Monica, CA, USA
$65,700,000
$1,132/SF
Building Size
58,000 SF
Asset Type
Office
Closing
Feb 17, 2020
About this deal
AI
The office building located at 1314 7th Street in Santa Monica has been sold in a closed transaction for a price of $65,700,000. Spanning across 58,000 square feet, the property was purchased at a rate of $1,100 per square foot.
Summary of transation details
- Property Type: Office
- Transaction Amount: $65,700,000
- Address: 1314 7th Street
- Market: Santa Monica
Rockwood Capital represented by Walter P. Schmidt acted as the buyer for this transaction. On the seller's side, DivcoWest Real Estate Investments, represented by Stuart Shiff, finalized the deal. The brokerage team at JLL, consisting of Andrew Harper, Michael Leggett, Doug Bond, and Matt McRoskey, facilitated this transaction.
On the Map
$65,700,000
$1,132/SF
Office
View full map
Players
Santa Monica Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael Leggett to view all their deals.
Browse California office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93