Douglas Emmett Acquires Westwood Apartment Building For $365M
1060 Glendon Ave, Westwood, Los Angeles, CA, USA
$365,000,000
$7,300/SF
Building Size
50,000 SF
Asset Type
Other
Closing
Jun 9, 2019
AI
An apartment building located at 1060 Glendon Ave in Westwood was recently sold for $365,000,000. The property spans 50,000 square feet, resulting in a price per square foot of $7,300. It consists of 350 units, with an average price per unit of $1,042,857.
Summary of transaction details
- Property Type: Apartment building
- Transaction Amount: $365,000,000
- Address: 1060 Glendon Ave
- Market: Westwood
- Size: 50,000 SF
- Price per square foot: $7,300
- Number of units: 350
- Price per unit: $1,042,857
The buyer of the property was Douglas Emmett, while the seller was Clarion Partners.
Players
Los Angeles Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93