Updated Oct 29, 2024
UCLA Acquires School & School Housing In Rancho Palos Verdes & San Pedro For $80M
30800 Palos Verdes Drive East
$80,000,000
$51/SF
Building Size
1,564,675 SF
Asset Type
Other
Closing
Jan 25, 2023
About this deal
AI
The sale of a school and school housing property located at 30800 Palos Verdes Drive East and 1600 W Palos Verdes Dr N in Rancho Palos Verdes and San Pedro has been finalized. The property, with a total square footage of 1,564,675, was sold by Marymount California University to UCLA for a total price of $80,000,000.
Summary of transaction details
- Property Type: School & School Housing
- Transaction Amount: $80,000,000
- Market: Rancho Palos Verdes & San Pedro
- Square Footage: 1,564,675
- Buyer: UCLA
- Seller: Marymount California University
- Buyer's Representative: Mike Condon Jr, Erica Finck, Jacob Kovner, Connor Martin, Mckenna Gaskill, and Kimberly Brown - TEAM CONDON Cushman & Wakefield
The sale was completed on January 25, 2023. The transaction involved the collaboration of Mike Condon Jr, Erica Finck, Jacob Kovner, Connor Martin, Mckenna Gaskill, and Kimberly Brown from TEAM CONDON Cushman & Wakefield who represented UCLA as the buyer. This acquisition marks a significant investment for UCLA in the education sector.
On the Map
$80,000,000
$51/SF
Other
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Players
Rancho Palos Verdes Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93