Gildred Development Co. Acquires Office Building In Rancho Sante Fe For $19.5M
SOLD
$19,500,000
California
See Similar DealsOffice97,823 SF
Sold 07/20/2020
SOLD
Gildred Development Co. Acquires Office Building In Rancho Sante Fe For $19.5M
5901 Priestly Drive, Carlsbad, CA, USA
See Similar DealsOffice97,823 SF
Sold 07/20/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$199
Total Square Footage:97,823 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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