Charing Cross Partners Acquires Retail Property In Glendale For $61.8M
SOLD
$61,800,000
California
See Similar DealsRetail111,624 SF
Sold 09/28/2021
SOLD
Charing Cross Partners Acquires Retail Property In Glendale For $61.8M
5040 San Fernando Rd, Glendale, CA...
See Similar DealsRetail111,624 SF
Sold 09/28/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$553
Total Square Footage:111,624 SF
Transaction Type:Sale
The retail property located at 5040 San Fernando Rd, Glendale, CA, was sold on 09/28/2021 for a total price of $61,800,000.00. The asset spans a total of 111,624 square feet and was part of a transaction in Glendale involving the seller's representative Matthew "Matt" Schwartz from Newmark, and the buyer, Charing Cross Partners.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $61,800,000.00
- Address: 5040 San Fernando Rd, Glendale, CA
- Market: Glendale
- Seller's Rep: Matthew "Matt" Schwartz (Newmark)
- Buyer: Charing Cross Partners
- Square Footage: 111,624
The sale of the retail property in Glendale involved the representation of Matthew "Matt" Schwartz from Newmark, acting as the seller's representative, and Charing Cross Partners as the purchasing entity.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,295,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$219,562.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$292,963.53
Annual Debt Service$3,515,562.35
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