Waterbridge Capital Acquires Office Building In Los Angeles For $110M
SOLD
$110,000,000
California
See Similar DealsOffice701 SF
Sold 03/30/2023
SOLD
Waterbridge Capital Acquires Office Building In Los Angeles For $110M
445 South Figueroa Street, Wilmington, California 90744, United States
See Similar DealsOffice701 SF
Sold 03/30/2023
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$156,918
Total Square Footage:701 SF
Transaction Type:Sale
The office building located at 445 S Figueroa St in Los Angeles has been sold in a recent transaction. The property, spanning 701,888 square feet, was purchased by Waterbridge Capital from KBS Realty for a total of $110,000,000. The sale price reflects a price per square foot of $157.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $110,000,000
- Address: 445 S Figueroa St, Los Angeles
- Market: Los Angeles
- Buyer: Waterbridge Capital
- Seller: KBS Realty
The transaction was facilitated by the brokers Mike Condon Jr. and Erica Finck from Cushman & Wakefield, as well as Kevin Shannon from Newmark. They played a crucial role in connecting the buyer and the seller, ensuring a successful deal.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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