Updated Oct 28, 2024
Deka Immobilien Acquires Retail Property In Santa Monica For $54.3M
2121 Cloverfield Blvd, Santa Monica, California 90404, United States
$54,300,000
$1,868/SF
Building Size
29,064 SF
Asset Type
Retail
Closing
Jan 6, 2022
About this deal
AI
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.
On the Map
$54,300,000
$1,868/SF
Retail
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Players
Santa Monica 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93