Related Companies Acquires Affordable Housing Portfolio In San Pedro For $590M
SOLD
$590,000,000
California
See Similar DealsOther256,550 SF
Sold 04/26/2018
SOLD
Related Companies Acquires Affordable Housing Portfolio In San Pedro For $590M
210 West 7th Street, San Pedro, CA, USA
See Similar DealsOther256,550 SF
Sold 04/26/2018
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$2,299
Total Square Footage:256,550 SF
Transaction Type:Sale
An affordable housing portfolio located at 210 7th Street in San Pedro has been sold for a price of $590,000,000. The portfolio includes various buildings, namely Van Nuys Apartments in Downtown, South Bay Villas in Compton, Terry Manor in University Park, and Casa De Las Hermanitas in Boyle Heights.
Summary of transaction details
- Property Type: Affordable Housing Portfolio
- Transaction Amount: $590,000,000
- Seller: Aimco - Kevin Uebelein
- Buyer: Related Companies - Stephen M. Ross
Aimco, represented by Kevin Uebelein, sold the affordable housing portfolio to Related Companies, represented by Stephen M. Ross.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$31,466,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,096,145.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,796,901.00
Annual Debt Service$33,562,812.05
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