Meritage Homes Acquires Office Building From Paul Miszkowicz For $19.2 Million In Santa Ana
SOLD
$19,200,000
California
See Similar DealsOffice111,483 SF
Sold 04/29/2025
SOLD
Meritage Homes Acquires Office Building From Paul Miszkowicz For $19.2 Million In Santa Ana
2020 East 1st Street
See Similar DealsOffice111,483 SF
Sold 04/29/2025
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$172
Total Square Footage:111,483 SF
Transaction Type:Sale
The asset involved in the transaction is an office building located at 2020 East 1st Street in the Santa Ana market. The sale price for the property was $19,200,000, covering a total square footage of 111,483, which equates to a price per square foot of $172.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $19,200,000
- Address: 2020 East 1st Street
- Market: Santa Ana
- Square Footage: 111,483
- Price per Square Foot: $172
- Buyer: Meritage Homes
- Seller: Paul Miszkowicz - Harbor Associates
- Brokers: Greg Sullivan & Anthony DeLorenzo - CBRE
The transaction involved key contributors such as the buyer, Meritage Homes, and the seller, Paul Miszkowicz representing Harbor Associates. The brokers facilitating the deal were Greg Sullivan and Anthony DeLorenzo from CBRE. Notably, prior to the sale, Harbor Associates secured entitlements for converting the office building into residential use.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,024,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54
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