Redcar Ltd. Acquires Santa Monica Office Buildings For $28M
1630 Euclid Street, Santa Monica, CA, USA
$28,000,000
$1,583/SF
Building Size
17,684 SF
Asset Type
Office
Closing
Jul 16, 2020
AI
The office property located at 1630 & 1634 Euclid and 1606 & 1620 Euclid in Santa Monica has been sold for a price of $28,000,000. The total square footage of the property is 17,684 square feet, with a price per square foot of $1,583. The sale also included a land square footage of 27,131 at a price per land square foot of $1,032.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $28,000,000
- Square Footage: 17,684
- Price Per Square Foot: $1,583
- Land Square Footage: 27,131
- Price Per Land Square Foot: $1,032
The buyer of the property is Redcar Ltd., represented by Jim Jacobson and Scott Rigsby from Industry Partners. The seller was represented by George Wilson, David Wilson, and Brad McCoy from Lee & Associates West LA Inc.
Players
Santa Monica 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93