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1640 Camino Del Rio N San D...

Lowe And Real Capital Solutions Acquire Westfield Mission Valley Retail Center For $290M
SOLDRetail

Lowe And Real Capital Solutions Acquire Westfield Mission Valley Retail Center For $290M

1640 Camino Del Rio N San Diego, CA 92108, USA

$290,000,000

$263/SF

Building Size

1,100,000 SF

Asset Type

Retail

Closing

Jul 21, 2023

AI

Located at 1640 Camino Del Rio North in San Diego, the Westfield Mission Valley retail center has been sold by Unibail-Rodamco-Westfield to Lowe and Real Capital Solutions for a total of $290,000,000. This retail property spans over 41 acres and offers a total square footage of 1,100,000. The purchase price per square foot is $264.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $290,000,000
  • Address: 1640 Camino Del Rio North
  • Market: San Diego
  • Acres: 41

Lowe and Real Capital Solutions aim to transform the Westfield Mission Valley retail center into a mixed-use village, incorporating refreshed retail spaces and additional residential components. The project's vision includes creating inviting public spaces, introducing unique local restaurants, and providing entertainment options for individuals of all ages.

Players

Mike McNerney

Buyer

$396M

vol

2 deals

Buyer
Real Capital Solutions (RCS)
Real Capital Solutions (RCS)Buyer
Unibail Rodamco Westfield
Unibail Rodamco WestfieldSeller

Los Angeles Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93