Garden Communities Acquires Office Building In Westlake Village For $32M
5601 Lindero Canyon Road, Westlake Village, California 91362, United States
$32,000,000
$275/SF
Building Size
116,000 SF
Asset Type
Office
Closing
Mar 3, 2022
AI
The office property located at 5601 Lindero Canyon Road in Westlake Village has been sold for a total price of $32,000,000. The transaction was completed on 03/04/2022. The property spans 116,000 square feet, resulting in a price per square foot of $275. The buyer of the property is Garden Communities, while the seller is EQ Office - Lisa Picard.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $32,000,000
- Address: 5601 Lindero Canyon Road
- Market: Westlake Village
- Square Footage: 116,000
- Price Per Square Foot: $275
- Date: 03/04/2022
Lisa Picard, representing EQ Office, facilitated the sale of the property to Garden Communities. The transaction marks an important milestone for both parties involved.
Players
Westlake Village 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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93