J. Paul Getty Trust Acquires Westside Office Building For $32.5M
SOLD
$32,500,000
+ 2
California
See Similar DealsOffice45,630 SF
Sold 06/09/2022
SOLD
J. Paul Getty Trust Acquires Westside Office Building For $32.5M
640 North Sepulveda Boulevard, Los Angeles, California 90049, United States
See Similar DealsOffice45,630 SF
Sold 06/09/2022
+ 2
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$712
Total Square Footage:45,630 SF
Transaction Type:Sale
The J. Paul Getty Trust has acquired an office property located at 640 North Sepulveda Boulevard in the Westside market. The property encompasses 45,630 square feet and was sold by Vectra Management Group for a total price of $32,500,000, resulting in a price per square foot of $712.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $32,500,000
- Square Footage: 45,630
- Address: 640 North Sepulveda Boulevard
- Market: Westside
Newmark represented both the buyer and seller in the deal. David Kluth and Aliya Coher acted as the representatives for J. Paul Getty Trust, while Sean Fulp, Ryan Plummer, and Mark Schuessler represented Vectra Management Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$115,465.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$154,066.58
Annual Debt Service$1,848,798.97
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