Hacienda Associates LP Acquires Office Building In Glendale For $27.5M
225 West Broadway, Glendale, California 91204, United States
$27,500,000
$217/SF
Building Size
126,500 SF
Asset Type
Office
Closing
Jun 26, 2022
AI
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.
Players
Glendale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93