Kingsbarn Realty Capital & The Kelemen Co Acquire Laguna Hills Office For $63.8M
SOLD
$63,800,000
+ 1
California
See Similar DealsOffice223,974 SF
Sold 10/12/2022
SOLD
Kingsbarn Realty Capital & The Kelemen Co Acquire Laguna Hills Office For $63.8M
24411 Ridge Route Drive, Laguna Hills, California 92653, United States
See Similar DealsOffice223,974 SF
Sold 10/12/2022
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$284
Total Square Footage:223,974 SF
Transaction Type:Sale
The property involved in this transaction is an office asset located at 24411 & 24461 Ridge Route Drive, 23422, 23382 & 23332 Mill Creek Drive in Laguna Hills, CA. The property spans a total of 223,974 square feet and was sold at a price of $63,800,000, resulting in a price per square foot of $285.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $63,800,000
- Buyer: Kingsbarn Realty Capital & The Kelemen Co
- Seller: Cigna Realty Investors & Cruzan
- Brokers: Kevin Shannon, Brandon White, Paul Jones & Brunson Howard - Newmark
The deal's key individuals and companies include the buyer, Kingsbarn Realty Capital & The Kelemen Co, and the seller, Cigna Realty Investors & Cruzan. The brokers involved in the transaction were Kevin Shannon, Brandon White, Paul Jones, and Brunson Howard from Newmark.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,402,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$226,667.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$302,444.55
Annual Debt Service$3,629,334.59
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