VFE Acquires Office Building In Santa Clarita For $48.9M
28490 North Avenue Stanford
$48,930,000
$250,923/SF
Building Size
195 SF
Asset Type
Office
Closing
Jan 20, 2023
AI
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
Valencia 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93