Hackman Capital Partners Acquires CBS Television City For $750M
SOLD
$750,000,000
California
See Similar DealsOffice780,000 SF
Sold 12/17/2018
SOLD
Hackman Capital Partners Acquires CBS Television City For $750M
Los Angeles, CA, USA
See Similar DealsOffice780,000 SF
Sold 12/17/2018
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$961
Total Square Footage:780,000 SF
Transaction Type:Sale
Joseph Ianniello and Michael Hackman were involved in the sale of CBS Television City for an impressive price of $750,000,000. The property spans a vast area of 780,000 square feet, resulting in a price per square foot of $961.
Summary of transation details
- Property Type: Sale
- Transaction Amount: $750,000,000
- Square Footage: 780,000
- Price Per Square Foot: $961
- Buyer: Hackman Capital Partners
- Seller: CBS Television City
- Date: 12/17/2018
Hackman Capital Partners successfully acquired CBS Television City in this notable transaction. This purchase marks a significant milestone for both parties involved.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$40,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,664,591.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,555,382.63
Annual Debt Service$42,664,591.59
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