Stan Kroenke's Kroenke Organization Acquires Woodland Hills Retail Property For $325M
SOLD
$325,000,000
California
See Similar DealsRetail600 SF
Sold 12/27/2022
SOLD
Stan Kroenke's Kroenke Organization Acquires Woodland Hills Retail Property For $325M
6220 Topanga Canyon Boulevard, Woodland Hills, California 91367, United States
See Similar DealsRetail600 SF
Sold 12/27/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$541,666
Total Square Footage:600 SF
Transaction Type:Sale
The retail property located at 6220–6344 North Topanga Canyon Boulevard in Woodland Hills has been sold. The property is situated at the Westfield Topanga complex. The transaction took place on December 27, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $325,000,000
- Square Footage: 600,000
- Price per Square Foot: $542
- Address: 6220–6344 North Topanga Canyon Boulevard, Woodland Hills
- Market: Woodland Hills
The buyer in the transaction was the Kroenke Organization represented by Stan Kroenke. They acquired the property from Unibail-Rodamco-Westfield, with Fabrice Mouchel representing the seller. The deal marks a significant real estate transaction in the retail market of Woodland Hills.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$17,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,154,656.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,540,665.81
Annual Debt Service$18,487,989.69
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