Manulife Investment Management Sells San Diego Office Buildings For $145M
SOLD
$145,000,000
+ 1
California
See Similar DealsOffice
Sold 04/01/2022
SOLD
Manulife Investment Management Sells San Diego Office Buildings For $145M
6200 Greenwich Drive, San Diego, California 92122, United States
See Similar DealsOffice
Sold 04/01/2022
+ 1
Summary
CALIFORNIA
Asset Type:Office
Transaction Type:Sale
The office property located at 6200 & 6220 Greenwich Drive in San Diego has been sold for $145,000,000. The transaction took place on April 1, 2022. The property, owned by Manulife Investment Management, was brokered by Kevin Shannon, Brunson Howard, Paul Jones, and Ken White from Newmark.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $145,000,000
- Seller: Manulife Investment Management
- Brokers: Kevin Shannon, Brunson Howard, Paul Jones, Ken White - Newmark
- Address: 6200 & 6220 Greenwich Drive, San Diego
- Market: San Diego
The sale of this office property marks a significant transaction in San Diego's real estate market. Kevin Shannon, Brunson Howard, Paul Jones, and Ken White from Newmark played key roles in facilitating the deal. The office asset, with its prime location and desirable characteristics, attracted the attention of buyers, ultimately selling for an impressive sum of $145,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$515,154.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$687,373.98
Annual Debt Service$8,248,487.71
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