Deka Immobilien Acquires Retail Property In Santa Monica For $54.3M
SOLD
$54,300,000
+ 1
California
See Similar DealsRetail29,064 SF
Sold 01/06/2022
SOLD
Deka Immobilien Acquires Retail Property In Santa Monica For $54.3M
2121 Cloverfield Blvd, Santa Monica, California 90404, United States
See Similar DealsRetail29,064 SF
Sold 01/06/2022
+ 1
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,868
Total Square Footage:29,064 SF
Transaction Type:Sale
The property involved in this closed transaction is a retail asset located at 2121 Cloverfield Blvd. in Santa Monica. The property spans 29,064 square feet and was sold for a price of $54,300,000, resulting in a price per square foot of $1,868.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $54,300,000
- Address: 2121 Cloverfield Blvd., Santa Monica
- Market: Santa Monica
The buyer in this transaction was Deka Immobilien, represented by Driss Oualkadi. The seller's representatives were Gleb Lvovich, Geoff Tranchina, Bryan Ley, and Dan Tyne from JLL.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,896,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$192,916.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$257,409.70
Annual Debt Service$3,088,916.43
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