Updated Oct 29, 2024
Gemdale USA Acquires Calabasas Office Campus For $79M With Seller, Buyer's Reps Newmark
4500 Park Granada, Calabasas, CA, USA
$79,000,000
$355/SF
Building Size
222,524 SF
Asset Type
Office
Closing
Apr 4, 2021
About this deal
AI
An office campus located at 4500 Park Granada in Calabasas has been sold for a total of $79,000,000. The property covers a space of 222,524 square feet, resulting in a price per square foot of $355. The transaction took place on April 5, 2021.
Summary of transation details
- Property Type: Office Campus
- Transaction Amount: $79,000,000
- Address: 4500 Park Granada, Calabasas
- Market: Calabasas
The buyer of the property is Gemdale USA, while the seller is a partnership between Christopher C. Rising of Rising Realty Partners and Peter Briger and Wesley R. Edens of Fortress Investment Group. The buyer was represented by David Milestone and Brett Green from Newmark, and the seller was represented by Kevin Shannon, Ken White, Rob Hannan, and Laura Stumm from Newmark Capital Markets.
On the Map
$79,000,000
$355/SF
Office
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Players
Calabasas 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93