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M. David Family Holdings Acquires Other Asset In Los Angeles For $35M

Property Image
SOLD
$35,000,000

California

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Other29,456 SF
Sold 09/23/2021
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Property Image
SOLD

M. David Family Holdings Acquires Other Asset In Los Angeles For $35M

6855 La Cienega BLVD, Los Angeles...

See Similar Deals
Other29,456 SF
Sold 09/23/2021
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Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$1,188
Total Square Footage:29,456 SF
Transaction Type:Sale

The property located at 6855 La Cienega Blvd in Los Angeles was involved in a recent transaction. The asset, classified as an "Other" type, consists of a total square footage of 29,456. The transaction took place on 09/23/2021, with the buyer, M. David Family Holdings, acquiring the property from the seller, Red Mountain Retail Group, for a total price of $35,000,000.00.

Summary of transaction details:

  • Property Type: Other
  • Transaction Amount: $35,000,000.00
  • Market: Los Angeles
  • Buyer: M. David Family Holdings
  • Seller: Red Mountain Retail Group
  • Buyer's Representative: Kevin Held (SRS Real Estate Partners)
  • Seller's Representative: Matthew "Matt" Schwartz (Newmark)
  • Address: 6855 La Cienega Blvd, Los Angeles
  • Square Footage: 29,456

Kevin Held from SRS Real Estate Partners represented the buyer, M. David Family Holdings, in this transaction, while the seller, Red Mountain Retail Group, was represented by Matthew "Matt" Schwartz from Newmark. Through their respective roles, they facilitated the successful sale of the property, showcasing their expertise in the real estate market of Los Angeles.

Players

Matthew "Matt" Schwartz
8 deals$214.6M volume
BROKER

Kevin Held
SRS Real Estate Partners
6 deals$104.6M volume
BROKER

BUYER

Details

SOLD
IMAGE: 09/23/2021 ADDRESS: 6855 La Cienega BLVD, Los Angeles... MARKET: Los Angeles ASSET TYPE: Other BUYER'S REP: Kevin Held(SRS Real Estate Partners) SELLER'S REP: Matthew "Matt" Schwartz(Newmark) BUYER: M. David Family Holdings SELLER: Red Mountain Retail Group PRICE: $35,000,000.00 SF: 29456

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Deal Type
Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
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