Updated Oct 28, 2024
Tourmaline Capital Acquires Retail Property In Long Beach For $16.2M
6200 East Pacific Coast Highway, Long Beach, CA 90803, USA
$16,200,000
$506/SF
Building Size
32,000 SF
Asset Type
Retail
Closing
Aug 11, 2020
About this deal
AI
Located in Long Beach, the property at 6200 Pacific Coast Hwy. has been sold in a recent transaction. The retail asset, spanning 32,000 square feet, was purchased by Tourmaline Capital, represented by Jonathan Cheng. The seller of the property was Claire Brotman. The deal was facilitated by brokers Daniel Tyner and Gleb Lvovich from JLL.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,200,000
- Address: 6200 Pacific Coast Hwy.
- Market: Long Beach
The involvement of key individuals and companies in this transaction adds further insight. Jonathan Cheng represented Tourmaline Capital as their buyer. On the other hand, Claire Brotman acted as the seller. The deal was successfully executed with the assistance of Daniel Tyner and Gleb Lvovich from JLL.
Players
Long Beach 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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93