Rockpoint Group Acquires Office Building On Wilshire Boulevard For $303.4M With Buyer's Rep Keith Gelb & Bill Walton, Seller: PGIM Real Estate, Ratkovich Company & AXA Capital
Miracle Mile, 5900 Wilshire Boulevard, Los Angeles, CA, USA
$303,400,000
$615/SF
Building Size
493,000 SF
Asset Type
Office
Closing
Feb 27, 2020
AI
The office property located at 5900 Wilshire Boulevard in the Miracle Mile neighborhood has been sold for a total price of $303,400,000. The property spans across 493,000 square feet and was sold at a price of $615 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $303,400,000
- Address: 5900 Wilshire Boulevard
- Market: Miracle Mile
The buyer in this transaction is the Rockpoint Group, represented by Keith Gelb and Bill Walton. The seller includes PGIM Real Estate, Ratkovich Company, and AXA Capital. The sale of this office asset marks a significant transaction in the market.
Players
Los Angeles 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93