Updated Oct 29, 2024
Watermarke Properties Acquires Santa Ana Office Portfolio For $36.3M
200 Sandpointe Ave Santa Ana, CA 92707, USA
$36,300,000
Building Size
—
Asset Type
Office
Closing
Jun 29, 2023
About this deal
AI
Newmark has sold the Sandpointe portfolio in Santa Ana, California for $36.3 million. The property, located at 200 & 201 East Sandpointe Avenue, spans across 8.3 acres and is classified as an office asset. Watermarke Properties purchased the property, which presents a promising opportunity for multifamily redevelopment in the Greater Airport Area of Santa Ana.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $36,300,000
- Address: 200 & 201 East Sandpointe Avenue
- Market: Santa Ana
- Acres: 8.3
The deal was facilitated by the brokers Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein, and Brandon White, all of whom are representatives from Newmark. Their involvement in the transaction added expertise and guidance to ensure a successful sale. The acquisition of the Sandpointe portfolio by Watermarke Properties marks an exciting opportunity for redevelopment in an area with high growth potential.
On the Map
$36,300,000
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93