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425 West Broadway, Glendale...

Sharp Capital Acquires Office Building On 425 West Broadway In Glendale For $19.75M
SOLDOffice

Sharp Capital Acquires Office Building On 425 West Broadway In Glendale For $19.75M

425 West Broadway, Glendale, CA 91204, USA

$19,750,000

$272/SF

Building Size

72,610 SF

Asset Type

Office

Closing

Aug 27, 2018

AI

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

Blackstone
BlackstoneSeller

Glendale 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

0.80%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93