VFE Acquires Office Building In Santa Clarita For $48.9M
SOLD
$48,930,000
California
See Similar DealsOffice195 SF
Sold 01/20/2023
SOLD
VFE Acquires Office Building In Santa Clarita For $48.9M
28490 North Avenue Stanford
See Similar DealsOffice195 SF
Sold 01/20/2023
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$250,923
Total Square Footage:195 SF
Transaction Type:Sale
A 195,000 square foot office property located at 28490 Avenue Stanford in Santa Clarita has been sold for $48,930,000. The sale was completed on 01/20/2023. The property was bought by VFE from the seller True North Real Estate Fund III. The transaction was facilitated by Cesar Gonzalez from Equity Union Commercial, representing the buyer, and Richard Ramirez from CBRE, representing the seller.
Summary of transaction details
- Property Type: Office
- Sale Price: $48,930,000
- Square Footage: 195,000
- Price per Square Foot: $251
- Address: 28490 Avenue Stanford, Santa Clarita
- Market: Santa Clarita
Cesar Gonzalez from Equity Union Commercial acted as the buyer's representative in the deal, while Richard Ramirez from CBRE represented the seller. This successful transaction highlights the active real estate market in Santa Clarita, with VFE acquiring the office property from True North Real Estate Fund III.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,609,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$173,837.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$231,953.16
Annual Debt Service$2,783,437.96
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