Sharp Capital Acquires Office Building On 425 West Broadway In Glendale For $19.75M
SOLD
$19,750,000
California
See Similar DealsOffice72,610 SF
Sold 08/28/2018
SOLD
Sharp Capital Acquires Office Building On 425 West Broadway In Glendale For $19.75M
425 West Broadway, Glendale, CA 91204, USA
See Similar DealsOffice72,610 SF
Sold 08/28/2018
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$272
Total Square Footage:72,610 SF
Transaction Type:Sale
Located at 425 West Broadway in Glendale, Los Angeles, this office property was recently sold in a closed transaction. The sale took place on August 28, 2018, with Sharp Capital acquiring the asset from Equity Office/Blackstone.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $19,750,000
- Square Footage: 72,610
- Price per Square Foot: $272
- Address: 425 West Broadway, Glendale, Los Angeles
- Market: Los Angeles
The transaction involved key individuals such as John Gray, Kathleen McCarthy, Sam Zell, Kenneth Caplan, and David Shophet. They played significant roles in facilitating the deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,053,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,167.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,625.08
Annual Debt Service$1,123,500.91
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