Kingsbarn Realty Capital & The Kelemen Co Acquire Laguna Hills Office For $63.8M
24411 Ridge Route Drive, Laguna Hills, California 92653, United States
$63,800,000
$284/SF
Building Size
223,974 SF
Asset Type
Office
Closing
Oct 11, 2022
AI
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
Laguna Hills Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93