Updated Dec 4, 2024
Chang Investment Group Acquires San Bernardino Office For $16M
295 East Caroline Street
$16,000,000
Building Size
—
Asset Type
Office
Closing
Feb 15, 2024
About this deal
AI
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.
On the Map
$16,000,000
Office
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Players
San Bernardino 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93