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Rialto Capital Acquires Office Building In El Segundo From Tishman Speyer For $205.5M

Property Image
SOLD
$205,500,000
David Hasbrouck
Benjamin (Ben) Lushing
+ 1

California

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Office259,754 SF
Sold 06/23/2022
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Property Image
SOLD

Rialto Capital Acquires Office Building In El Segundo From Tishman Speyer For $205.5M

555 Aviation Boulevard, El Segundo, California 90245, United States

See Similar Deals
Office259,754 SF
Sold 06/23/2022
David Hasbrouck
Benjamin (Ben) Lushing
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$791
Total Square Footage:259,754 SF
Transaction Type:Sale

The property asset involved in this transaction is an office located at 555 Aviation Blvd in El Segundo. The sale was completed on 06/23/2022.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $205,500,000
  • Address: 555 Aviation Blvd
  • Market: El Segundo

The buyer in this transaction was Rialto Capital, and the seller was Tishman Speyer. The deal was facilitated by brokers Kevin Donner, David Hasbrouck, Benjamin Lushing, and Lars Platt from Cushman & Wakefield.

The total square footage of the property is 259,754, resulting in a price per square foot of $791.

Players

Kevin Donner
48 deals$10.1B volume
BROKER

Benjamin (Ben) Lushing
Newmark
18 deals$3.1B volume
BROKER

David Hasbrouck
Cushman & Wakefield
2 deals$242.5M volume
BROKER

Lars Platt
Cushman & Wakefield
4 deals$265.8M volume
BROKER

Tishman Speyer
BROKERAGE



Natixis
LENDER


Details

SOLD
IMAGE: Kevin Donner, Benjamin Lushing, David Hasbrouck & Lars Platt DATE: 06/23/2022 ADDRESS: 555 Aviation Blvd. MARKET: El Segundo ASSET TYPE: Office BUYER: Rialto Capital SELLER: Tishman Speyer BROKERS: Kevin Donner, David Hasbrouck, Benjamin Lushing (@BenLushing) & Lars Platt - Cushman & Wakefield (@CushWake) SALE PRICE: $205,500,000 SF: 259,754 ~ PPSF: $791

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$10,960,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$730,098.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$974,174.84
Annual Debt Service$11,690,098.09