Cruzan Acquires Office Building On Wilshire Boulevard In Beverly Hills For $69M
SOLD
$69,000,000
California
See Similar DealsOffice106,980 SF
Sold 04/26/2018
SOLD
Cruzan Acquires Office Building On Wilshire Boulevard In Beverly Hills For $69M
9171 Wilshire Boulevard, Beverly Hills, CA, USA
See Similar DealsOffice106,980 SF
Sold 04/26/2018
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$645
Total Square Footage:106,980 SF
Transaction Type:Sale
The office building located at 9171 Wilshire Boulevard in Los Angeles has been sold in a closed transaction. The property is situated in the Beverly Hills market and spans a total area of 106,980 square feet. The sale took place on April 26, 2018, at a price of $69,000,000, resulting in a price per square foot of $644.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $69,000,000
- Address: 9171 Wilshire Boulevard, Los Angeles
- Market: Beverly Hills
- Size: 106,980 square feet
The seller in this transaction was John Hancock Life Insurance Company, represented by Andrew G. Arnott. The buyer of the property was Cruzan, with Dennis Cruzan, Ann Bruce, and Pete Spencer as the representatives.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$245,142.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$327,095.20
Annual Debt Service$3,925,142.43
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