Updated Dec 21, 2023
Bridge Group Investments And Steerpoint Capital Acquire Retail Property In Palmdale, CA For $60M
1233 Rancho Vista Boulevard, Palmdale, California 93551, United States
$60,000,000
Building Size
—
Asset Type
Retail
Closing
Aug 12, 2022
About this deal
AI
A retail property located at 1233 W Rancho Vista Blvd in Palmdale, CA has been sold for a total price of $60,000,000. The transaction took place on December 8, 2022. The property is owned by Bridge Group Investments, represented by George Mersho, and Steerpoint Capital, represented by Bo Okoroji.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $60,000,000
- Market: Palmdale, CA
- Buyer: Bridge Group Investments - George Mersho; Steerpoint Capital - Bo Okoroji
The sale of the property offers insight into the involvement of key individuals and companies. Bridge Group Investments, led by George Mersho, together with Steerpoint Capital, represented by Bo Okoroji, successfully acquired the retail property located at 1233 W Rancho Vista Blvd in Palmdale, CA.
Players
Palmdale Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93