Chang Investment Group Acquires San Bernardino Office For $16M
SOLD
$16,000,000
California
See Similar DealsOffice
Sold 02/15/2024
SOLD
Chang Investment Group Acquires San Bernardino Office For $16M
295 East Caroline Street
See Similar DealsOffice
Sold 02/15/2024
Summary
CALIFORNIA
Asset Type:Office
Transaction Type:Sale
The property involved in the transaction is an office located at 295 East Caroline Street in San Bernardino. The sale price for this asset was $16,000,000 with a total square footage of 87,123, resulting in a price per square foot of $184.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,000,000
- Address: 295 East Caroline Street
- Market: San Bernardino
- Buyer's Rep: Steve Chang - Chang Investment Group of KW Commercial
- Seller's Rep: Matt Burnett & Kevin Fryman - Hanley Investment Group; Brandon Beauchemin - CBRE
The key individuals and companies involved in the deal were Steve Chang from Chang Investment Group of KW Commercial representing the buyer, and Matt Burnett and Kevin Fryman from Hanley Investment Group along with Brandon Beauchemin from CBRE representing the seller.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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