Updated Dec 12, 2024
Amstar & Searles Property Group Acquires Office Building In Westlake Village For $80.8M
2945 Townsgate Road, Westlake Village, CA, USA
$80,800,000
$338/SF
Building Size
239,003 SF
Asset Type
Office
Closing
Jul 22, 2021
About this deal
AI
Located in Westlake Village, the property at 2945 Townsgate Road has recently been sold in a transaction that closed on July 23, 2021. The asset type of the property is an office, covering a total area of approximately 239,003 square feet. The sale price for this transaction was $80,800,000, resulting in a price per square foot (PPSF) of $338. The property is situated in a prime market, providing a valuable investment opportunity.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $80,800,000
- Address: 2945 Townsgate Road
- Market: Westlake Village
- Square Footage: 239,003
The buyer of this property was a joint effort between Amstar and Searles Property Group. On the other side, Invesco Real Estate acted as the seller. The successful completion of this deal was facilitated by Kevin Shannon, Rob Hannan, Ken White, and Laura Stumm from Newmark, who represented both the buyer and seller.
Players
Thousand Oaks 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93