Updated Oct 29, 2024
EF Education First Acquires William Carey International University In Pasadena
1539 East Howard Street, Pasadena, CA, USA
$40,000,000
$144/SF
Building Size
277,260 SF
Asset Type
Other
Closing
Apr 16, 2018
About this deal
AI
The William Carey International University in Los Angeles has been sold for approximately $40,000,000. The university, located at 1539 East Howard Street, spans 15 acres in the Pasadena market. With a price per square foot of $61, this deal represents a significant transaction in the education sector.
Summary of transaction details
- Property Type: University
- Transaction Amount: $40,000,000 (Approx.)
- Address: 1539 East Howard Street, Los Angeles
- Market: Pasadena
- Square Footage: 15 Acres
- Price per Square Foot: $61
The buyer, EF Education First, was represented by Shawna Marino. EF Education First, founded in Sweden in 1965, is a global education company with offices in 116 nations. The seller, William Carey International University, enlisted the services of Keith Mathias from RK Capital Real Estate Group as their broker.
Players
Pasadena 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93