Updated Dec 12, 2024
Searles Property Group Purchases Property From Invesco Real Estate For $80.8 Million
2945 Townsgate Rd, Westlake Village...
$80,800,000
Building Size
—
Asset Type
Office
Closing
Jul 23, 2021
About this deal
AI
The property involved in the transaction is located at 2945 Townsgate Rd, Westlake Village in the Westlake Village market. The sale was completed for a total amount of $80,800,000.00, with no square footage specified for the asset.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $80,800,000.00
- Address: 2945 Townsgate Rd, Westlake Village
- Market: Westlake Village
- Seller: Invesco Real Estate
- Buyer: Searles Property Group
- Seller's Representatives: Ken White(Newmark), Kevin Shannon(Newmark), Laura Stumm(Newmark)
This transaction highlights the involvement of the representatives from Newmark in the negotiation on behalf of Invesco Real Estate, ensuring a successful sale to Searles Property Group.
Players
Westlake Village Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse California office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93