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RA Centers Acquires Meadows Village Center In Temecula From Fortress Investment Group LLC For $27.7M
SOLD
$27,700,000
California
See Similar DealsRetail67,336 SF
Sold 05/15/2023
SOLD
RA Centers Acquires Meadows Village Center In Temecula From Fortress Investment Group LLC For $27.7M
31963 Rancho California Rd Temecula, CA 92592, USA
See Similar DealsRetail67,336 SF
Sold 05/15/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$411
Total Square Footage:67,336 SF
Transaction Type:Sale
The Meadows Village Center, a grocery-anchored retail center in Temecula, California, has been sold to RA Centers for $27.7 million. The property, located at 31963 Rancho California Road, spans across 7.98 acres and offers a total square footage of 67,336. The transaction took place on May 15, 2023, and the market in focus is Temecula.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $27,700,000
- Address: 31963 Rancho California Road
- Market: Temecula
- Acres: 7.98
The Meadows Village Center sale involved both the buyer, RA Centers, and the seller, Fortress Investment Group LLC. CBRE's National Retail Partners represented the property, with brokers Jimmy Slusher, Philip Voorhees, and James Tyrrell from CBRE playing a key role in the transaction.
The retail center features Barons Market and CVS Pharmacy, and its transaction price amounted to $411 per square foot. This successful deal marks a significant milestone for all the parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,477,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$98,412.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$131,312.13
Annual Debt Service$1,575,745.58
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