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TTM Real-Estate Capital Acquires Retail Property In Los Angeles For $80M

Property Image
SOLD
$80,000,000

California

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Retail300 SF
Sold 03/26/2023
the dealdetailscomps
Property Image
SOLD

TTM Real-Estate Capital Acquires Retail Property In Los Angeles For $80M

6081 Center Drive, Los Angeles, California 90045, United States

See Similar Deals
Retail300 SF
Sold 03/26/2023

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$266,666
Total Square Footage:300 SF
Transaction Type:Sale

The retail property located at 6081 Center Drive in Los Angeles has been sold in a recent transaction. The property, spanning 300,000 square feet, was sold for a price of $80,000,000, resulting in a price per square foot of $267. The sale took place on March 26, 2023.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $80,000,000
  • Address: 6081 Center Drive
  • Market: Los Angeles
  • Seller: Torchlight Investors
  • Buyer: TTM Real-Estate Capital
  • Square Footage: 300,000
  • Price per Square Foot: $267

Torchlight Investors acted as the seller in this transaction, while TTM Real-Estate Capital was the buyer. The deal was completed on March 26, 2023, with Tyler Mateen providing the image of the property. The property is located in Los Angeles, a vibrant market for retail assets.

Players

BUYER

Details

SOLD
IMAGE: Tyler Mateen DATE: 03/26/2023 ADDRESS: 6081 Center Drive (@_hhla_ ) MARKET: Los Angeles ASSET TYPE: Retail SELLER: Torchlight Investors BUYER: TTM Real-Estate Capital (@tmateen) SALE PRICE: $80,000,000 SF: 300,000 ~ PPSF: $267

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77