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655 N Central Ave, Glendale...

DivcoWest Acquires Glendale Office For $179M With CBRE As Seller's Rep
SOLDOffice

DivcoWest Acquires Glendale Office For $179M With CBRE As Seller's Rep

655 N Central Ave, Glendale, CA, 91203

$179,000,000

$327/SF

Building Size

547,300 SF

Asset Type

Office

Closing

Mar 7, 2017

AI

The property asset involved in this transaction is an office building located at 655 N Central Ave, Glendale, CA, 91203. The sale price for this asset was $179,000,000.00, encompassing a total square footage of 547,300 in the Glendale market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $179,000,000.00
  • Sale Date: 03/07/2017
  • Seller's Representative: Michael "Mike" Longo, Sean Sullivan & Todd Tydlaska - CBRE
  • Buyer: DivcoWest

The key individuals and companies involved in this transaction include the seller's representative team from CBRE, which played a significant role in facilitating the deal. DivcoWest is identified as the buyer, completing the acquisition of the office property in Glendale.

Players

Michael Longo

CBRE

Broker

$1.9B

vol

32 deals

Broker
DivcoWest
DivcoWestBuyer
DivcoWest
DivcoWestLender

Glendale 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

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93