Updated Nov 28, 2024
CIM Group Acquires Retail Property In Baldwin Hills For $100M
3650 W Martin Luther King Jr Blvd, Los Angeles, CA 90008, USA
$100,000,000
$115/SF
Building Size
869,000 SF
Asset Type
Retail
Closing
Apr 28, 2020
About this deal
AI
The retail property located at 3650 W. Martin Luther King Blvd in Baldwin Hills has been sold in a closed transaction. The property consists of approximately 869,000 square feet with a price per square foot of $115. The transaction was completed on April 29, 2020, and the total price of the property was $100,000,000. The property was sold by Capri Urban Investors to CIM Group.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $100,000,000
- Square Feet: 869,000
- Price per Square Foot: $115
- Address: 3650 W. Martin Luther King Blvd, Baldwin Hills
- Market: Baldwin Hills
CIM Group, a prominent real estate investment firm, acted as the buyer in this transaction. Capri Urban Investors, a well-known real estate investment company, represented the seller's side.
Players
Los Angeles 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93