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
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
Loading comparables…
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