Dayani Partners Acquires Office Building In Irvine For $25.4M
SOLD
$25,400,000
California
See Similar DealsOffice101,161 SF
Sold 01/24/2020
SOLD
Dayani Partners Acquires Office Building In Irvine For $25.4M
16842 Von Karman Avenue, Irvine, CA, USA
See Similar DealsOffice101,161 SF
Sold 01/24/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$251
Total Square Footage:101,161 SF
Transaction Type:Sale
The office property located at 16842 Von Karman Avenue in Irvine was recently sold for a total price of $25,400,000. This transaction took place on January 24, 2020. The property spans across 101,161 square feet, resulting in a price per square foot of $251. The buyer of the property was Dayani Partners, represented by Hooman Dayani. On the other hand, the seller of the property was KBS Growth & Income REIT Inc., with Tim Helgeson and Rod Richerson as the representatives.
Summary of transation details
- Property Type: Office
- Transaction Amount: $25,400,000
- Date: January 24, 2020
- Address: 16842 Von Karman Avenue, Irvine
- Market: Irvine
- Square Footage: 101,161
- Price per Square Foot: $251
The deal was facilitated by Morgan Lieber from A Street Partners and Anthony DeLorenzo, as well as Gary Stache from CBRE.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,354,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$90,240.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,408.96
Annual Debt Service$1,444,907.50
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