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IRA Capital Acquires Office Building In Santa Ana For $38.4M

Property Image
SOLD
$38,400,000
Chris Martin
Gary Stache
Doug Mack
+ 1

California

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Office568,090 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

IRA Capital Acquires Office Building In Santa Ana For $38.4M

2212 E 4th St, Santa Ana, CA 92705, USA

See Similar Deals
Office568,090 SF
Sold
Chris Martin
Gary Stache
Doug Mack
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$67
Total Square Footage:568,090 SF
Transaction Type:Sale

The office property located at 2212 E. 4th St in Santa Ana was recently sold for a total of $38,400,000. The transaction involved a total area of 56,809 square feet, resulting in a price per square foot of $675. The property was purchased by IRA Capital from the seller, St. Joseph Hospital of Orange.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $38,400,000
  • Address: 2212 E. 4th St, Santa Ana
  • Market: Santa Ana
  • Square Footage: 56,809
  • Price per Square Foot: $675

The deal was facilitated by the following brokers from CBRE: Gary Stache, Anthony DeLorenzo, Doug Mack, Bryan Johnson, and Chris Martin. They acted as representatives for the buyer and seller, ensuring a successful transaction.

Players

Chris Martin
CBRE
Chris Martin
3 deals$64.7M volume(949) 278-6791
BROKER
Doug Mack
CBRE
Doug Mack
20 deals$251.1M volume
BROKER
Gary Stache
CBRE
Gary Stache
33 deals$481.9M volume
BROKER
Anthony DeLorenzo
CBRE
Anthony DeLorenzo
116 deals$2B volume
BROKER
IRA Capital
IRA Capital
BUYER

Details

SOLD
IMAGE: Anthony DeLorenzo & Bryan Johnson DATE: 05/18/2020 ADDRESS: 2212 E. 4th St MARKET: Santa Ana ASSET TYPE: Office PRICE: $38,400,000 SF: 56,809 PPSF: $675 BUYER: IRA Capital SELLER: St. Joseph Hospital of Orange BROKERS: Gary Stache, Anthony DeLorenzo, Doug Mack, Bryan Johnson & Chris Martin – CBRE

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

$2,047,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$136,427.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$182,035.59
Annual Debt Service$2,184,427.09