Milan Capital Management Acquires One Eleven La Quinta Center In La Quinta For $35M
SOLD
California
See Similar DealsRetail154,383 SF
Sold 06/29/2022
SOLD
Milan Capital Management Acquires One Eleven La Quinta Center In La Quinta For $35M
78950 California Highway 111
See Similar DealsRetail154,383 SF
Sold 06/29/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$226
Total Square Footage:154,383 SF
Transaction Type:Sale
The One Eleven La Quinta Center, located at 78950 CA-111 in La Quinta, has been sold in a recent transaction. The retail property, spanning 154,383 square feet, was sold for a total price of $35,000,000. The sale price equates to approximately $226 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35,000,000
- Address: 78950 CA-111 - One Eleven La Quinta Center
- Market: La Quinta
The buyer of the property is Milan Capital Management, while the seller is Shovlin Companies. The transaction was facilitated by brokers Chris Tramontano and John Redfield from SRS Real Estate Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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