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810 Traction Ave, Los Angel...

DLJ Real Estate Capital Partners Acquires Property At 810 Traction Ave For $20M With John Hillman As Seller's Rep
SOLDOffice

DLJ Real Estate Capital Partners Acquires Property At 810 Traction Ave For $20M With John Hillman As Seller's Rep

810 Traction Ave, Los Angeles, CA, 90...

$20,000,000

$305/SF

Building Size

65,500 SF

Asset Type

Office

Closing

May 18, 2018

AI

The property asset involved in this transaction is located at 810 Traction Ave, Los Angeles, CA. It recently sold for $20,000,000.00, equating to approximately $305 per square foot. The total square footage of the combined properties is 65,500 SF, which includes the two-story industrial building adjacent to the main property. The buildings provide a total of 15 units and are situated in the Los Angeles market.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $20,000,000.00
  • Address: 810 Traction Ave, Los Angeles, CA
  • Square Footage: 65,500 SF
  • Buyer: DLJ Real Estate Capital Partners
  • Seller: Rollins & Rollins
  • Seller's Representative: John Hillman (CBRE)
  • Additional Representative: Greg Stanton (CBRE)

The key individuals involved in this transaction include John Hillman, who represented Rollins & Rollins, and Greg Stanton, who assisted on the deal, both from CBRE. The transaction involved properties that were originally bought by Rollins & Rollins nearly 40 years ago. DLJ Real Estate Capital Partners acquired both the John Parkinson-designed building at 800 Traction Ave., which has historical significance, and the neighboring building at 810 Traction Ave.

Players

John Hillman

CBRE

Broker

$31.3M

vol

2 deals

Broker
DP
DLJ Real Estate Capital PartnersBuyer

Los Angeles 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

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93