Brixton Capital Acquires Retail Property In Santee For $27.1M
214 Town Center Parkway
$27,100,000
$253/SF
Building Size
106,903 SF
Asset Type
Retail
Closing
Jul 20, 2022
AI
A retail property located at 214, 230-240, 262-278 & 294 Town Center Pky in Santee has been sold in a closed transaction. The property spans a total of 106,903 square feet and is situated in the Santee market. The sale price for this retail asset was $27,100,000, resulting in a price per square foot of $253.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $27,100,000
- Square Footage: 106,903 sq. ft.
- Address: 214, 230-240, 262-278 & 294 Town Center Pky., Santee
- Market: Santee
The buyer of the property is Brixton Capital, while the seller is Union City Investments, represented by Marcia Alphson. The deal was facilitated by the broker team consisting of Sean Cox, Alexander Moore, and Don MacLellan from Faris Lee Investments.
Players
Center 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93