Updated Oct 28, 2024
IRA Capital Acquires Office Property In Irvine For $103M
2722 Michelson Drive, Irvine, CA, USA
$103,000,000
$667/SF
Building Size
154,418 SF
Asset Type
Office
Closing
Dec 1, 2021
About this deal
AI
The office property located at 2722 Michelson in Irvine has been sold for a price of $103,000,000. The property spans approximately 9.0 acres and was acquired by IRA Capital. The transaction took place on December 1, 2021.
Summary of transation details
- Property Type: Office
- Transaction Amount: $103,000,000
- Address: 2722 Michelson, Irvine
- Market: Irvine
- Buyer: IRA Capital
The deal was facilitated by Samir M. Patel, Amer H. Malas, Amer F. Kasm, Jay H. Gangwal, and Mohannad S. Malas. They represented the buyer, IRA Capital, in the transaction.
Players
Irvine 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93