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Boyd Watterson Asset Management Acquires Santa Ana Office Building For $98M

Property Image
SOLD
$98,000,000

California

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Office220,000 SF
Sold 10/23/2021
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Property Image
SOLD

Boyd Watterson Asset Management Acquires Santa Ana Office Building For $98M

2 MacArthur Pl, Santa Ana, CA, USA

See Similar Deals
Office220,000 SF
Sold 10/23/2021
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$445
Total Square Footage:220,000 SF
Transaction Type:Sale

The office property located at 2 Macarthur Place in Santa Ana has been sold for $98,000,000. The sale took place on October 23, 2021, and the property spans across 220,000 square feet. The price per square foot was $445. The buyer in this transaction was Boyd Watterson Asset Management, represented by Brian Gevry. On the selling side, Ocean West Capital Partners, along with Russ Allegrette and Angelo Gordon & Company, were involved in the deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $98,000,000
  • Address: 2 Macarthur Place, Santa Ana
  • Market: Santa Ana
  • Buyer: Boyd Watterson Asset Management - Brian Gevry
  • Seller: Ocean West Capital Partners - Russ Allegrette & Angelo Gordon & Company
  • Square Footage: 220,000
  • Price per Square Foot: $445

The buyer's representative in this transaction was Brian Gevry from Boyd Watterson Asset Management. On the selling side, Russ Allegrette and Angelo Gordon & Company represented Ocean West Capital Partners. This successful office property sale indicates a significant transaction in the Santa Ana market.

Players

3 deals$442.7M volume
BUYER

Details

SOLD
IMAGE: Brian Gevry & Russ Allegrette DATE: 10/23/2021 ADDRESS: 2 Macarthur Place MARKET: Santa Ana ASSET TYPE: Office BUYER: Boyd Watterson Asset Management - Brian Gevry SELLER: Ocean West Capital Partners - Russ Allegrette & Angelo Gordon & Company SALE PRICE: $98,000,000 SF: 220,000 ~ PPSF: $445

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,226,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$348,173.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$464,570.00
Annual Debt Service$5,574,839.97