Hacienda Associates LP Acquires Office Building In Glendale For $27.5M
SOLD
$27,500,000
California
See Similar DealsOffice126,500 SF
Sold 06/27/2022
SOLD
Hacienda Associates LP Acquires Office Building In Glendale For $27.5M
225 West Broadway, Glendale, California 91204, United States
See Similar DealsOffice126,500 SF
Sold 06/27/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$217
Total Square Footage:126,500 SF
Transaction Type:Sale
The office property located at 225 W. Broadway in Glendale has been sold in a closed transaction. The sale was facilitated by Bill Boyd, Linda Lee, and Scott Unger of Kidder Mathews. The property was purchased by Hacienda Associates LP at a sale price of $27,500,000. The transaction took place on June 27, 2022. The property spans an area of 126,500 square feet, resulting in a price per square foot of $217.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,500,000
- Address: 225 W. Broadway, Glendale
- Market: Glendale
- Buyer: Hacienda Associates LP
- Seller: Hyun 1996-2 Family LP, Royalblue LLC, and Broadway JSY LLC
- Seller's Representative: Bill Boyd, Linda Lee, and Scott Unger - Kidder Mathews
- Square Footage: 126,500
- Price per Square Foot: $217
The buyer, Hacienda Associates LP, acquired the property from the sellers, Hyun 1996-2 Family LP, Royalblue LLC, and Broadway JSY LLC. The transaction was facilitated by Bill Boyd, Linda Lee, and Scott Unger of Kidder Mathews. This closed deal represents a significant transaction in the Glendale market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,466,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$97,701.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$130,364.03
Annual Debt Service$1,564,368.36
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