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

Property Image
SOLD
$290,000,000

California

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Retail1,100,000 SF
Sold 07/21/2023
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Property Image
SOLD

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

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

See Similar Deals
Retail1,100,000 SF
Sold 07/21/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$263
Total Square Footage:1,100,000 SF
Transaction Type:Sale

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

MM
Mike McNerney
2 deals$396M volume
BUYER
Real Capital Solutions (RCS)
Real Capital Solutions (RCS)
BUYER
UW
Unibail Rodamco Westfield
SELLER

Details

SOLD
IMAGE: Joel Mayer & Mike McNerney DATE: 07/21/2023 ADDRESS: 1640 Camino Del Rio North MARKET: San Diego ASSET TYPE: Retail ~ ACRES: 41 BUYER: Lowe - Mike McNerney & Joel Mayer; Real Capital Solutions SELLER: Unibail-Rodamco-Westfield SALE PRICE: $290,000,000 SF: 1,100,000 ~ PPSF: $264 NOTE: Lowe and Real Capital Solutions purchased the Westfield Mission Valley retail center for $290 million, aiming to revamp it into a mixed-use village with refreshed retail and added residential components. The project seeks to create inviting public spaces, introduce unique local restaurants, and provide entertainment options for all ages.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$1,030,308.74
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