Kilroy Realty Acquires Office Property In Culver City For $185M
SOLD
$185,000,000
California
See Similar DealsOffice157,600 SF
Sold 09/19/2019
SOLD
Kilroy Realty Acquires Office Property In Culver City For $185M
3101 South La Cienega Boulevard, Culver City, CA, USA
See Similar DealsOffice157,600 SF
Sold 09/19/2019
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,173
Total Square Footage:157,600 SF
Transaction Type:Sale
The office property located at 3101-3243 La Cienega Blvd in Culver City has been sold for a price of $185,000,000. The transaction took place on September 19, 2019. The property spans a total area of 157,600 square feet, resulting in a price per square foot of $1,173.
Summary of transation details
- Property Type: Office
- Transaction Amount: $185,000,000
- Address: 3101-3243 La Cienega Blvd
- Market: Culver City
The seller of the property was Lincoln Property Company, while the buyer was Kilroy Realty. The transaction was facilitated by the brokerage firm Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$657,265.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$876,994.38
Annual Debt Service$10,523,932.59
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