Hackman Capital Partners Acquires Studio In Manhattan Beach From The Carlyle Group For $650M
1600 Rosecrans Ave, Manhattan Beach, CA, USA
$650,000,000
$1,107/SF
Building Size
587,000 SF
Asset Type
Other
Closing
Aug 6, 2019
AI
The property involved in this transaction is a studio located at 1600 Rosecrans Avenue in Manhattan Beach. The property has a total square footage of 587,000, and the price per square foot is $1,107. The transaction took place on August 7, 2019.
Summary of transaction details:
- Property Type: Studio
- Transaction Amount: $650,000,000
- Address: 1600 Rosecrans Ave
- Market: Manhattan Beach
The seller of the property was Edward Samek, representing The Carlyle Group. The buyers were Michael Hackman and Tyler Friedman, who are part of Hackman Capital Partners.
Players
Manhattan Beach 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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93