Blatteis & Schnur Purchases Property Managed By Rockwood Capital For $52.3 Million In Pasadena
SOLD
$52,300,000
California
See Similar DealsRetail28,421 SF
Sold 06/21/2022
SOLD
Blatteis & Schnur Purchases Property Managed By Rockwood Capital For $52.3 Million In Pasadena
64 W Colorado BLVD, Pasadena, CA 91105
See Similar DealsRetail28,421 SF
Sold 06/21/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,840
Total Square Footage:28,421 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 64 W Colorado BLVD, Pasadena, CA. It was sold for $52,300,000.00, and encompasses a total square footage of 28,421. The market value pertains to the Pasadena area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $52,300,000.00
- Address: 64 W Colorado BLVD, Pasadena, CA
- Market: Pasadena
- Seller: Partnership Managed by Rockwood Capital
- Buyer: Blatteis & Schnur
- Seller's Representative: Jimmy Slusher-CBRE
The deal saw Blatteis & Schnur acquiring the property from a partnership managed by Rockwood Capital, with Jimmy Slusher from CBRE representing the seller throughout the transaction process.
Players
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SELLER
LENDER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,789,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$185,810.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$247,928.68
Annual Debt Service$2,975,144.19
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