Updated Oct 28, 2024
Gildred Development Co. Acquires Office Building In Rancho Sante Fe For $19.5M
5901 Priestly Drive, Carlsbad, CA, USA
$19,500,000
$199/SF
Building Size
97,823 SF
Asset Type
Office
Closing
Jul 20, 2020
About this deal
AI
The office property located at 5901 Priestly Drive in Rancho Sante Fe has been sold. The property spans a total area of 97,823 square feet. The transaction took place on July 20, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $19,500,000
- Address: 5901 Priestly Drive
- Market: Rancho Sante Fe
- Buyer: Gildred Development Co.
- Seller: Huntington Hotel Co.
- Buyer's Representative: JLL Capital Markets
Gildred Development Co. acquired the property from Huntington Hotel Co. for a total of $19,500,000. The deal was facilitated by JLL Capital Markets, who acted as the buyer's representative.
Players
Carlsbad 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93